A thin film read-write magnetic head includes a write inductive section having a magnetic circuit consisting of thin film magnetic layers and a read flux sensing element, such as a magnetoresistive device or Hall effect device, located in a gap in the magnetic circuit. During the write mode, a magnetic valve including an electrical conductor provides a shunt path to bypass the flux sensing element. During the read mode, a saturation current is directed to the valve conductor so that the shunt path is open, thereby allowing the flux sensing element to sense the readout signal.
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