| | Re: Passing current through a magnet
You know there will be two effects, one is a possible change in the permanent magnetic flux intensity of the magnet and another one is that generation of a secondary magnetic flux intensity which will be detectable as a spiral field around the metal object.
(i.e.,) If we pass a current through a magnet, it may play with the exchange interaction, disaligning the individual domains, reducing the overall magnetic flux intensity of the magnet. The current will develop an additional magnetic field which will spiral around the (assumed) length wise orientation of the bar magnet. This will create a superposition of the magnetic flux intensities, and likely work to disrupt the orientations of the magnetic domains within the magnet.