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A jewelry closure includes a pair of magnetic closure members for magnetically engaging together and a mechanical closure which acts as a second closure or safety feature. One or both closure members includes a magnet. The mechanical closure includes a substantially stiff wire member which pivots about a first member of the closure. An intermediate portion of the wire member is engaged adjacent an end face of the second member of the closure to prevent the magnetic members from being separated until after the wire member is pivoted to the open position. The mechanical closure must be released before the magnetic closure can be released. The jewelry closure includes an end ring on each member for attaching to jewelry. A spring ring closure may optionally be attached to each of these rings for attaching jewelry, such as a chain, to the magnetic closure. Using this feature, the magnetic closure may readily be used as a replacement clasp for jewelry.