A driving anvil washer retaining apparatus (12) for a rivet gun (14) includes a magnetized element (21). The magnetized element (21) is coupled to the rivet gun (14) and retains an anvil washer (52) during installation of a rivet (82). A method of installing a rivet (82) includes inserting a stem (46) of a rivet assembly (80) into a rivet gun nose (22) having at least one magnetized portion (21). A rivet (82) of the rivet assembly (80) is inserted into at least one object. The stem (46) is removed from the rivet assembly (80). A driving anvil washer (52) is retained via the magnetized portion (21).