A magnetic dipole is the limit of either a closed loop of electric current or a pair of poles as the size of the source is reduced to zero while keeping the magnetic moment constant. It is a magnetic analogue of the electric dipole, but the analogy is not perfect. In particular, a true magnetic monopole, the magnetic analogue of an electric charge, has never been observed in nature. However, magnetic monopole quasiparticles have been observed as emergent properties of certain condensed matter systems. Moreover, one form of magnetic dipole moment is associated with a fundamental quantum property—the spin of elementary particles.
The magnetic field around any magnetic source looks increasingly like the field of a magnetic dipole as the distance from the source increases.