We have a 1 toy rule and it has to be nothing of value so most days they take a car for the sandpit or a tech deck or similar. I usually frisk them at the door if I see them gathering toys and by the time we get to school the tanty is generally over.

DS1 has been given a few things. I usually tell him to give something back of equal value ie a car for a car and on the occasion that a little girl in his class gave him her canteen money I made him pay it back on canteen day the next week.