The four terrestrial planets, together with the Earth's Moon, provide a significant range of conditions under which dynamo action could occur. All five bodies have been visited by spacecraft, and from three of the five bodies (Earth, Moon, and Mars) we have samples of planetary material upon which paleomagnetic studies have been undertaken. At the present time, only the Earth and Mercury appear to have a significant dipole magnetic field. However, the Moon, and possibly Mars, appear to have had ancient planetary dynamos. Venus does not now have a significant planetary magnetic field, and the high surface temperatures should have prevented the recording of evidence of any ancient magnetic field. Since the solidification of the solid inner core is thought to be the energy source for the terrestrial magnetic field, and since smaller bodies evolve thermally more rapidly than larger bodies, we conjecture that the terrestrial planets are today in three different phases of magnetic activity. Venus is in a predynamo phase, not having cooled to the point of core solidification. Mercury and the Earth are in the middle of their dynamo phase, with Mercury perhaps near the end of its activity. Mars and the Moon seem to be well past their dynamo phase. Much needs to be done in the study of the magnetism of the terrestrial planets. We need to characterize the multipole harmonic structure of the Mercury magnetic field plus its secular variation, and we need to analyze returned samples to attempt to unfold the long-term history of Mercury's dynamo. We need to more thoroughly map the magnetism of the lunar surface and to analyze samples obtained from a wider area of the lunar surface. We need a more complete survey of the present Martian magnetic field and samples from a range of different ages of Martian surface material. Finally, a better characterization of the secular variation of the terrestrial magnetic field is needed in order to unfold the workings of the terrestrial dynamo. ¿ American Geophysical Union 1992