This has all been fascinating to me--I have never heard of degaussing, either the process or the name. And, I wouldn't call my monitor new (5? years, I think), but if it has a degaussing button I don't know about it. There are 4 across the bottom that I've never touched and have no idea what they're for: the end ones have a 1 and a 2 above them, and the middle ones have left and right arrows.