Making Magnetic Plastic Gauge for Tool Height

[SteveHGraham]

I learned one other good lesson. Never buy a rectangular magnet. You can make a hole for a round one with one plunge cut. A rectangular hole is much more annoying.

[tornitore45]

I made a cylinder about 1.5" dia 2"tall heavy enough to require no magnet.
Threaded a bolt with two nuts, placed what looks like an open scissor between the bolt head and the top nut. Turn the base to adjust the height and lock with the second nut.
Works for the tool upside up and down.

Anything magnetic around machines is bound to have chip all over, a pain to deal with.