A liquid level gauge includes a mounting head and a sensor assembly with a support tube that extends into a tank from the mounting head. A gauge rod is positioned in a support tube for selective movement out of the tank for visually determining the liquid level. A magnet is associated with the gauge rod and couples with a magnet associated with a float that slides along the support tube so that the gauge rod and float are selectively coupled together. A pair of spaced bearings are mechanically retained within the float structure with retaining rings and spaced projections located on opposite sides of each bearing. In this manner, the float slides more freely along the support tube, allowing more accurate readings while minimizing failure.