Although it's an interesting idea, I didn't mean to suggest only using the magnets to center it - I was merely clarifying the geometry. Another advantage of m

Although it's an interesting idea, I didn't mean to suggest only using the magnets to center it - I was merely clarifying the geometry. Another advantage of my design is that it allows (requires, in fact) one to use many small magnets in place of a few large ones, which is safer and easier to engineer. But as for expense - I think that once you decide to replace springs with magnets in a pogo stick, you have left the path of economy anyway and might as well go for broke.