I have a magnet VHF antenna base I am rebuilding. It has a plastic cover that encapsulates the whole base. Inside it has a magnet that has a center hole. On top of the magnet is a metal washer. The antenna mast holder is held by a bolt that passes through the center of the magnet hole, but it is insulated from the magnet itself with plastic washers. The center conductor of the coax was attached to the center mast holder. This effectively isolates the the center conductor from everything and it is good to go. However, the coax shielding wire was kind of just sitting in there. I don't know if it has a specific place or not. Should it terminate to the metal washer on top of the magnet? It was / and will be isolated and not anywhere near the center conductor.