  We consider a cylindrical metallic magnet that is set into rotation about a
horizontal axis by a falling mass. In such a system the magnetic field will
cause a radial current which is non-solenoidal. This leads to charge
accumulation and a partial attenuation of radial current. The magnetic field
acting on the radially flowing current slows down the acceleration. Using
newtonian dynamics we evaluate the angular velocity and displacement. We
explicitly show that the electromagnetic angular momentum must be taken into
consideration in order to account for the change in angular momentum due to the
external torque on the system. Further the loss in potential energy of the
falling mass can be accounted for only after taking into consideration the
electrostatic energy and the Joule loss. We suggest that this example will be
of pedagogical value to intermediate physics students. A version of this is
scheduled to appear in American Journal of Physics 2011.
  Keywords: Rotating magnet, Charge accumulation
