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The working titles of this film were Implosion and A-Men. The Magnetic Monster was narrated by Richard Carlson. Acording to various contemporary news items, producer Ivan Tors and director Curt Siodmak were planning to produce a series of television films based on the "A-Men" characters, based on an original story by Siodmak. However, no television series was produced based on Siodmak's characters or story. A July 3, 1951 news item noted that Tors was considering Diana Douglas for a role in the film.
In his autobiography, Siodmak noted the following about the production: The Magnetic Monster was shot in eleven days. Tors had acquired a ten-minute film clip of an atom smasher from the 1934 German film Gold, directed by Karl Hartl and produced by Universum-Film A.-G. This footage was used in the scene of the Nova Scotia deltatron, and Siodmak costumed his actors to resemble the performers in Gold. For the "M.A.N.I.A.C." computer, Siodmak filmed a computer being developed at the University of California in Los Angeles. In his autobiography, supervising editor Herbert L. Strock states that he replaced Siodmak during production, however, this information has not been confirmed.