A paper clip is made of sheet metal folded over in a U-shaped profile to provide parallel clip faces and one of the clip faces has at least one slit bordering a strip of the sheet metal which is bowed out, so as to form a bistable spring portion. The spring strip is bowed out for inserting the clip. Finger pressure on the strip snaps it into its clipping position and finger pressure on the clip face beyond the ends of the bowed strip will snap the strip back into its open position for release of the papers.