Measurements of the spin susceptibility, low temperature specific heat, and ESR linewidths of high purity Li(TCNQ) are reported. The qualitative behavior and magnetic properties of Li(TCNQ) are found to be the same as those of the general class of structurally dimered one‐dimensional spin ½ alkali salts. The observed magnetic excitations are treated as triplet excitons delocalized in a band.