The "area" of the hysteresis loop depends on the coercivity, the coercivity of raw iron(Wrought iron) is 2 Oe(160 A/m). If 1 gauss = 103/ 4∏ = 79.58 A/m(I'm not sure about this, source (under "General working conversions" page 2)). A field of 2 gauss can magnetize/demagnetize this material?! The work done is amazingly diminutive! Is this right?! I imagine the hysteresis loop being extremely narrow, which makes sense since most "soft" iron materials are like that. They are easy to magnetize and demagnetize.