A magnetic clasp for an article of jewelry is provided. The clasp includes a pair of mating male and female members, an alignment groove on one member, and associated alignment projection on the other member and a safety catch. The pair of mating male and female members are arranged to be magnetically coupled to each other. The safety catch is arranged to be moved to a locked position to mechanically releasably secure the male and female members together when they are aligned. The alignment groove is shaped to facilitate and guide the projection into it when the two members are magnetically coupled and appropriately aligned so that the safety catch can be moved to the closed position to thereby releasably lock the members together.