We report the spin dynamic properties of non‐substituted ferrocenium complexes. Ferrocenium shows a field‐induced single‐molecule magnet behaviour in DMF solution while cobaltocene lacks slow spin relaxation neither in powder nor in solution. Multireference quantum mechanical calculations give a non‐Aufbau orbital occupation for ferrocenium with small first excitation energy that agrees with the relatively large measured magnetic anisotropy for a transition metal S=1/2 system. The analysis of the spin relaxation shows an important participation of quantum tunnelling, Raman, direct and local‐mode mechanisms which depend on temperature and the external field conditions. The calculation of spin‐phonon coupling constants for the vibrational modes shows that the first vibrational mode, despite having a low spin‐phonon constant, is the most efficient process for the spin relaxation at low temperatures. In such conditions, vibrational modes with higher spin‐phonon coupling constants are not populated. Additionally, the vibrational energy of this first mode is in excellent agreement with the experimental fitted value obtained from the local‐mode mechanism. Ferrocenium complexes show slow spin relaxation due to an unusual non‐Aufbau orbital occupation. An external field is required for such behavior but magnetic dilution results in a considerable decrease of the field required. The energy of the first calculated vibrational mode agrees with the fitted value obtained from the local‐mode contribution of the experimental spin relaxation times.