1. A magnetic toner used for magnetic image character recognition, said toner containing a magnetic particle powder comprising magnetite particles having a residual magnetization of from 12 to 20 emu/g, containing from 18.5 to 22.5% by weight of Fe.sup.2+, coated with silicon oxide, aluminum oxide or a mixture thereof, and having a specific surface area of from 3.5 to 9.5 m.sup.2 /g.