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Nanoparticles of iron and iron oxide have been prepared in a thermal diffusion cloud chamber using pulsed laser evaporation. SEM/TEM studies of these particles reveal a size distribution with a mean diameter of about 60 Å. This is consistent with the mean particle size estimated from the magnetic data. The oxidation levels of these nanoparticles prepared at different partial oxygen pressures were investigated using FTIR. All the samples are found to exhibit superparamagnetism with blocking temperatures ranging from 50 K to above room temperature. Magnetic anisotropy constants are calculated from the frequency dependence of the blocking temperatures are found to be one quarter of magnitude higher than is known for the bulk.

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