  In this paper, we review the progress in the analysis of magnetic monopoles
as generalized states in quantum mechanics. We show that the considered model
contains rich algebraic structure that generates symmetries which have been
utilized in different physical contexts. Even though are we focused on quantum
mechanics in noncommutative space $\textbf{R}_\lambda^3$, the results can be
reconstructed in ordinary quantum mechanics in $\textbf{R}^3$ as well.
