Well they were pretty crap. There was a metalised bit of plastic for the card and the reader burned certain bits of the plastic to gate the light. If you bought a £5 card you could cut a hole in it, fill it up with epoxy and use a permanent marker to fool it into thinking you had a £20 card :)
Edit: my memory is faulty; they were units, not £. Been a long time :)
Edit: my memory is faulty; they were units, not £. Been a long time :)