The first USS Magnet (SP-563) was a United States Navy patrol vessel in commission from 1917 to 1919.SP-563 Magnet at Department of the Navy Naval History and Heritage Command Online Library of Selected Images: U.S. Navy Ships -- Listed by Hull Number "SP" #s and "ID" #s -- World War I Era Patrol Vessels and other Acquired Ships and Craft numbered from SP-500 through SP-599.

Magnet was built as a private motor yacht of the same name by the Electric Launch Company at Bayonne, New Jersey, in 1910.

On 11 June 1917, the U.S. Navy acquired her from her owner, H. F. Lippett, for use as a section patrol craft during World War I.

She was commissioned as USS Magnet (SP-563) on 27 June 1917.

Magnet served on patrol duties for the rest of World War I.