I have no idea what the answer might be, but I would also like to know whether anybody’s tried it and found it to be practical. I ‘inherited’ a couple of magnetic chucks a while back and wondered about machining washers myself (and I have exactly the same issue with a backplate).
The only conclusion that I came to was that the degree of grip would be directly proportional to the surface area of the washer, all other things being equal. So if it’s a large washer, it stands a better chance of staying put. But even with a light skim, I’m seriously dubious about its ability to remain in one place, especially at the start of a cut.
Holding washers with a magnetic chuck seems to work if you are surface-grinding them – but I would have thought the forces involved were less than for any sort of cut. Has anybody tried it?