http://en.wikipedia.org/wiki/Magnetic_core_memory

Oh. I hadn't realised it was this small. I was thinking that the "cores" 
were the same sort of size as the RF filters you still find on some 
cables. (I.e., about 3cm across.) I had therefore imagined that a 
complete core memory would fill an entire rack. (I also read somewhere 
that it was housed in a vat of heated oil to keep the temperature 
constant, and therefore reduce the need to recalibrate.)

 From the look of this photograph, they actually put the stuff on 
"chips" of a sort...

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