This research focuses on a low-cost, large-scale synthesis of magnetite nanoparticles using two different techniques. This material will be uniform in shape, and have the characteristic magnetic properties relative to its particles size.The first experimental detail is the formation of a colloid made from the dissolution of Fe metal in an aqueous acid solution. Once the base colloid is prepared, there are two distinct routes to synthesizing magnetite powders. One method involves the evaporation of the colloid followed by reduction in hydrogen. The second method involves direct reduction of the colloid followed by centrifugation. The resulting material can be made in batches up to 0.5 kg, and have been identified as 95-99% magnetite.