The dissolution of [Co{2,6‐(Me2NCH2)2C6H3}(η5‐C5H5)(H2O)]PF6 (1a) in dry methanol or dry acetonitrile affords compounds 1b and 1c, respectively, in which the water ligand of 1a has been substituted by MeOH or by CH3CN. The crystal structure analysis of 1b established that a strong intramolecular interaction exists between the methanolic proton and the NMe2 group that was interacting with H2O in 1a. For 1c no interaction could be found between the Co‐bound acetonitrile ligand and this NMe2 as it has changed its position in order to be as far away from the cobalt atom as possible. Whereas no reaction takes place between 1a and an excess of sodium iodide in water or in methanol, in acetone I− easily substitutes the water ligand of 1a to afford high yields of the neutral compound 3. Here also 1H NMR spectroscopic data are in favour of a structure with no interaction between the NMe2 and the iodide ligand as in 1c. Protonation of the free NMe2 unit of 1a by adding increasing amounts of HPF6 in water leads to the synthesis of 4a. The pKa of 1a in D2O was found to be 6.1. Treating 1a with acidic buffered water solutions (pH = 5.5) leads to the in situ formation of 4a. From these solutions, association constants were determined for Cl−, Br−, I−, AcO−, H2PO4− and NO3−. Significant selectivity in water for AcO− and H2PO4− vs. halide anions has been established. (© Wiley‐VCH Verlag GmbH, 69451 Weinheim, Germany, 2002)