One method of preparing a nanoparticle can include decomposing a compound at a high temperature, adding an acid to the solvent to form a reaction mixture, increasing the temperature of the reaction mixture to boiling point of the reaction mixture, and heating the reaction mixture at the boiling point for 60 to 120 minutes to produce the nanoparticle. The coated nanoparticle or the nanoparticle can be used in magnetic particles imaging.