Polymer metal complexes of poly(styrene sulfonic acid-co-maleic acid) and Cu(II), Ni(II), Co(II), and Zn(II) were synthesized. The magnetic, spectral, and thermal properties, as well as the electrical conductivities, of the chelates were investigated, and possible structures were assigned to the polychelates. Semiempirical calculations at the AMI level were carried out on the geometrical arrangement of the polychelates.