Gas turbines and other large industrial equipment are subjected to high-temperature oxidation and corrosion. Research and development of efficient protective coatings is the main task in the field. Also, knowledge about the depletion state of the coating during the operation time is important. To date, practical nondestructive methods for the measurement of the depletion state do not exist. By integrating magnetic phases into the coating, the condition of the coating can be determined by measuring its magnetic properties. In this paper, a new technique using frequency mixing is proposed to investigate the thickness of the coatings based on their magnetic properties. A sensor system is designed and tested on specific magnetic coatings. New approaches are proposed to overcome the dependency of the measurement on the distance between coil and sample that all noncontact techniques face. The novelty is a low cost sensor with high sensibility and selectivity which can provide very high signal-to-noise ratios. Prospects and limitations are discussed for future use of the sensor in industrial applications.