Steve, getting the magnet out is pretty easy. Most are glued in place with epoxy or JB Weld. Just heat the hub a little with a heat gun or torch. Try the heat gun first. I JB Weld mine in and it takes a torch to free it. Be careful as the magnet will sometimes ooze up and others have popped off. Clean the hole and install a new one. You can get them from CH Ignitions. I order them in bulk from Adams Magnet Products. They are Alnico 5. You need to measure the hole or call MVVS for the size of the magnet.