Spin is an intrinsic form of angular momentum carried by elementary particles, and thus by composite particles such as hadrons, atomic nuclei, and atoms. Spin is quantized, and accurate models for the interaction with spin require relativistic quantum mechanics or quantum field theory.
Schematic diagram depicting the spin of the neutron as the black arrow and magnetic field lines associated with the neutron magnetic moment. The neutron has a negative magnetic moment. While the spin of the neutron is upward in this diagram, the magnetic field lines at the center of the dipole are downward.
Wolfgang Pauli lecturing
In physics, angular momentum is the rotational analog of linear momentum. It is an important physical quantity because it is a conserved quantity – the total angular momentum of a closed system remains constant. Angular momentum has both a direction and a magnitude, and both are conserved. Bicycles and motorcycles, flying discs, rifled bullets, and gyroscopes owe their useful properties to conservation of angular momentum. Conservation of angular momentum is also why hurricanes form spirals and neutron stars have high rotational rates. In general, conservation limits the possible motion of a system, but it does not uniquely determine it.
This gyroscope remains upright while spinning owing to the conservation of its angular momentum.
A figure skater in a spin uses conservation of angular momentum – decreasing her moment of inertia by drawing in her arms and legs increases her rotational speed.