Stable polarization of permanent magnets over the lifetime of the application is an important aspect in electrical machine design. Specification of the long-term stability of magnet material is difficult, since knowledge of the phenomenon is incomplete. To be able to optimize magnet material selection, the long-term magnetic behavior of the material must also be understood. This study shows that material with a very square JH curve is stable until a certain critical operating temperature is reached. Major losses are detected as the critical temperature is exceeded. Material with a rounder JH curve does not show a well-defined critical temperature, but increasing losses over a large temperature range. The critical temperature of a material is also dependent on the field conditions. Results differ whether the tests are performed in an open or closed magnetic circuit. In open-circuit tests, the opposing field is not homogeneously distributed throughout the volume of the magnet and thus the long-term behavior is different than that in closed-circuit conditions. Open-circuit tests seem to give bigger losses than closed-circuit tests in cases where the permeance coefficient of the open-circuit sample is considered to be the average permeance coefficient, calculated according to the dimensions of the magnet.