Retainer ring for a wire package and method of using the same

A welding wire package comprising an outer packaging with a central axis, a wire coil in said packaging coaxial with the packaging axis, said wire coil having a top surface, a bottom surface, and an outer cylindrical surface, and a retainer ring within said outer packaging, said ring having a top surface and a bottom surface, said bottom surface of said ring being on said top surface of said coil, said retainer ring allowing welding wire to be paid from under said ring upwardly from said coil and including printed material on at least one of said top and bottom surfaces of said ring, said retainer ring includes an annular ring body that is substantially flexible and magnetic, wherein the ring body includes one or more magnets positioned therein, the one or more magnets being separable from the ring body and having at least a portion of the printed material positioned along an outer surface of each such magnet.