The present invention is directed to a sample holder that generates an intense magnetic field for inducing a signal proportional to the magnetic field in a molecular sample while enabling the simultaneous exposure of the sample to one or more measurement light beams. The body of the sample holder consists of a permanent magnet means for producing the intense magnetic field at a strength sufficient to induce the signal. The holder fits in the palm of a user's hand and enables manual manipulation of the holder by the user. A sample chamber and a beam channel are present in the sample holder. Versions of the holder are disclosed which orient the magnetic lines of flux parallel or perpendicular to the sample so as to induce MCD or MLD signals, respectively.