this is one of those tools that you only use once a year or so
but when you need it, it's invaluable
last time I used mine was in framing my basement - I had a small stud space I had to put nails through a stud wall up into a unilam - it was wide enough for a hammer but i had no way to hold a nail up to start it. i used the magnet to hold the nail by its side to hammer it in.
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