The lodestone, or more properly magnetite (iron oxide), is a pale brown to iron black stone. Lodestone was originally lead-stone for its use as a direction finder. It is often found in meteorites.
The Sanskrit word for magnetite is chum-baka, meaning the "kisser." T’su shi is what the Chinese call it and means the “loving stone.” These names are based on its ability to attract other metals. For this reason, it has often been used as a love charm. Prostitutes often wore the stone to attract business. East Indian kings were crowned on lodestone seats to attract gifts and affection. An old charm to test fidelity instructed a man or woman to place the stone under the pillow of their spouse. If the husband or wife were faithful, the stone would cause them to embrace their partner.
Ancients believed magnetite harbored a spirit, and stones were regularly immersed in water so that they could drink. Due to its ability to attract metals, it is used to draw money and good fortune. Lodestone wards off enchantments. In Voodoo and Obeah, two stones are carried in a red pouch, one to attract good fortune and one to drive off evil. Rabbi Benoni, a fourteenth century alchemist thought that lodestone could cause sleep walking, but that, mixed with diamond and sapphire in the form of an amulet, it would render the bearer “almost” invisible.
Medieval healers thought lodestone would cure sports injuries, cramps, and gout. It would also help with asthma. Set in silver, it improves the eyesight, and set in gold, it strengthens the heart. Ancients held that lodestone was a cure for male sexual dysfunction. For this, they were instructed to soak the stone in oil and use the oil on their genitals. Men in Mexico still believe in the power of lodestone in this area. Clipped onto the belt, it can help with a man’s sexual success as well as success in other areas like gambling and business. Women use lodestone with coral on a necklace to bring about an easy birth and to draw philandering husbands back home where they belong. Modern healers can use the stone to draw illness out of the body.