Bimetallic coordination compounds prone to spin‐state‐switching rearrangements via spin‐crossover or valence tautomerism mechanisms are of ongoing interest due to their unique magnetic characteristics. Dinuclear transition metal (Cr, Mn, Fe, Co, Ni, Cu) complexes with redox‐active bridging ligands (tetraoxolenes and their imine derivatives, di‐o‐quinones bearing linker groups) and tetradentate nitrogen‐containing bases (tetraazacyclotetradecane, tris(2‐pyridylmethyl)amine and N,N′‐dialkyl‐2,11‐diaza[3.3]‐(2,6)pyridinophane derivatives) are described from the viewpoint of their electronic structure and magnetic properties. The present review summarizes data on comprehensive investigations of bi‐ and polystable species of such structural architectures, which might be valuable for the chemists and materials scientists involved in the creation of new promising magnetic materials − building blocks for electronic devices of future generations.