A drum tuning key includes a body having a longitudinal axis, a first end and a second end, the first end including a keyed interface configured to releaseably engage an element of a tuning assembly of a drum for cooperative rotation therewith and the second end including a radially-extending portion configured to be manipulated by a user to apply a torque in relation to the longitudinal axis to operate the tuning assembly, and a magnet carried by the body and having a first end, a second end, and an axis of magnetization extending between the first end and the second end, wherein at least one of the first end or the second end of the magnet is located at or adjacent an outer surface of the body.