  We study the magnetic properties of spherical Co clusters with diameters
between 0.8 nm and 5.4 nm (25 to 7500$ atoms) prepared by sequential sputtering
of Co and Al2O3. The particle size distribution has been determined from the
equilibrium susceptibility and magnetization data and it is compared to
previous structural characterizations. The distribution of activation energies
was independently obtained from a scaling plot of the ac susceptibility.
Combining these two distributions we have accurately determined the effective
anisotropy constant Keff. We find that Keff is enhanced with respect to the
bulk value and that it is dominated by a strong anisotropy induced at the
surface of the clusters. Interactions between the magnetic moments of adjacent
layers are shown to increase the effective activation energy barrier for the
reversal of the magnetic moments. Finally, this reversal is shown to proceed
classically down to the lowest temperature investigated (1.8 K).
