A magnetic recording medium is described, comprising a magnetic layer containing ferromagnetic fine particles and a binder coated on one side of a non-magnetic support and a backing layer coated on the opposite side of the non-magnetic support, wherein said ferromagnetic fine particles have a cobalt content of from 2 to 10 wt % with respect to the iron oxide content thereof, the content of divalent iron (Fe.sup.2+) of from 1 to 10 wt % with respect to the trivalent iron (Fe.sup.3+) content thereof, and the specific surface area of from 30 to 50 m.sup.2 /g, said binder comprises a copolymer of vinyl chloride-vinyl acetate-maleic acid contained in an amount of 40 wt % or more with respect to the total binder content of the magnetic layer, an abrasive agent having a Mohs hardness of 6 or more is contained in said magnetic layer, and the resulting magnetic tape has a coercive force of from 750 to 900 Oe at 25.degree. C.