There are a number reasons why a magnet may show a weak magnetic field. The strongest magnets can be demagnetized under certain circumstances.
A magnet may have a weak magnetic field if:
(1) it was weak to start with
(2) it is a temporary magnet
(3) it is an electromagnet and no current is being supplied
(4) it was overheated (above its Curie temperature)
(5) it was stroked with another magnet in a random fashion
(6) it was repeatedly subjected to mechanical stress (hammered, jarred etc)
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Specialty: Emergency Medicine, Critical Care