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.
Because magnetic monopoles do not exist, the magnetic field at a large distance from any static magnetic source looks like the field of a dipole with the same dipole moment. For higher-order sources (e.g. quadrupoles) with no dipole moment, their field decays with distance to zero faster than that of a dipole field.
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