Salt Box
Some of the particulars...
Salt Box, Black Locust. 3.5"Ø x 3.75"H dowel hinge with magnetic catch.
The blank was turned round between centers, with a tenon at each end. Top determined and marked. 1/4 holes, one for a dowel, one for the magnets. drilled (drill press) from the bottom, all the way thru into what will be the top. Even with a little drift, when the top is parted off, the holes will line up. Top of box tenon chucked up in four jaw chuck, top parted and faced off. Bottom of box chucked up and faced off. With the box bottom still chucked up, box top is added with short (temporary) dowels, live center brought up, box turned true, shaped with awareness of hole locations. Top shaped, removed, box hollowed and reverse turned to clean up bottom. Magnets and dowel glued in (epoxy). Dowel judiciously sanded to a nice, slightly resistant, friction fit. Inside finished with bees wax with as much as possible buffed off. Outside is spar urethane two coats, rubbed in and wiped off, let cure, light EEE buff. Picture taking thru project most lacking...
Salt Box

Top swiveled partway opened
Set up for drilling from the bottom
A hand clamp probably would have worked.
I usually take the scenic route...

plywood with hole for tenon

Blank hot melt glued to plywood
this was clamped to D/P table
while drilling dowel/mag holes.