Okay this might be a stupid question but here goes. I know that if I place two bar magnets with their N sides facing each other like this: -- -- Then they will tend to move a bit and snap together (if they're close enough that is). I have heard people call this the "potential energy" of the magnetic system but is this accurate? Do magnets have potential energy when held in attraction/repulsion just like an object held above the ground has potential energy due to gravity? I didn't see much on the Wikipedia article on Potential Energy about this.