A mold used to form a magnetic member includes a mold body having a mold opening, a mold support that supports the mold cavity, and a mold insert. The mold insert is disposed in the mold opening of the mold body to form a mold cavity. The mold insert is coated with a coating to protect the mold body from chemical attack and abrasive wear of the mold material. The coating comprises an electroless nickel layer formed on or over the mold insert, and a chromium nitride layer formed on or over the electroless nickel layer. The mold insert can be formed of beryllium-copper (Be—Cu).