I know that you may have seen a lot of magnetic pick-up tools before, but this one uses a non-standard, powerful, rare earth magnet allowing it to pick up 8 pounds of weight. It is not bulky at all either condensing down to about the size of a pen.  

Features:

• Powerful rare earth magnet picks up to 8 pounds
• Goes from 5.25 inches to up to 32 inches long
• Pocket clip
• Durable soft grip handle