gregorach said:
Sorry guys, but a Faraday cage will not provide protection against
static magnetic fields - unless it's made from a superconducting material. It'll block only RF, EM, or electrostatic fields.
http://en.wikipedia.org/wiki/Electromagnetic_shielding
Fair enough, but I wasn't meaning to specifically advocate building a Faraday Cage, just providing an effect like it. The shielding effect of the Cage also requires a ground connection of some sort to work properly and certainly doesn't need to be solid to work, or it would be the Faraday Box.
Everybody go get your compass, a piece of metal that reacts to a magnet (like a butter knife) and a magnet. Bring the magnet close to the compass and it reacts, aligning with the magnetic field of the magnet. Now, interpose the metal between the compass and the magnet. The field should be blocked, interfering with the response of the compass to the magnet. Therefore, a box made of butter knives should protect your compass from magnetic fields. Even better, a box made from the material of butter knives rather than knives themselves.
This webpage gives a moderately technical discussion of magnetic shielding as it relates to non-changing fields. What it boils down to is this: When you put a magnet in a steel box, the field (flux lines) is contained inside the metal of that box rather than radiating out into space. The reverse is true as well; if you wrap yourself in steel, magnetic fields can't get to you.
Here is a simple physics experiment where they do just what I'm advocating; placing a compass inside a soup can to protect it from a magnetic field. Now, they've refined the concept so that the compass doesn't touch the sides, is centred in the can and the can opening isn't pointed at the magnetic source; It's still proof of concept.
If I were to build a box, I would put little rubber or foam spacers to hold and cushion my compass; keeps it off the walls and in the area of greatest effect.
Or, I'll pull it out of the camping bin, check it out and give it a stroke with the neodymium magnet to tune it up if it's not acting properly. Whatever you find easier.