These magnets are cheaper, lighter, and stronger than samarium-cobalt magnets. However, neodymium magnets lose their magnetism at high temperatures. Samarium-cobalt magnets do not.
Neo tends to be vulnerable to corrosion similar to rusting, causing the magnet to weaken and eventually break down into a powder. This problem is solved by applying a protective coating. Nickel plating or nickel/copper/nickel plating is used as a standard method, although many other protective coatings are also in use.
It is not recommended to use the magnet without a protective layer. The application of the magnet will affect the choice of coating. For example gold plating is ideal for many medical applications, rubber coating provides additional friction, rubber coated zinc plating is used in marine environments, etc.
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