A Guide to Collectible Toy Banks - Universal Knowledge Factory

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Your Guide to Toys and Collectibles

Toy Banks

When penny banks arrived in America during 1793 a common phrase of the day was "A penny saved is a penny earned." Penny banks, collecting coins and saving for a rainy day quickly became a popular pastime.

In the beginning penny banks were created with pottery and porcelain and molded into simple shapes. In time the materials and shapes expanded into a variety of shapes including animals, people, vehicles, buildings and landmarks. Collectors were attracted to new materials such as cast iron, tin, glass, wood, and plastic.

Today the variety is so vast that there are thousands of possibilities for collectors who may choose to specialize in specific themes, materials used in bank production, or still or mechanical banks.

Piggy bank with 100 dollar bill

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Mechanical banks first appeared during the 1800s. These banks are crafted with moving parts. They are often considered to be the royalty of American toys because they were developed during the time that industrialization was causing change in so many facets of life. This included a shift in the materials used to create toys, from wood and tin to cast iron. Cast iron was durable and affordable. Creating toy banks with cast iron was not only cheaper than wood, tin, or sheet metal, it also allowed for new designs possibilities.

Once a coin is dropped into the bank a lever is pressed, and the action begins. Most often the action caused the coin to be deposited into the bank. For instance, a character may move forward and deposit the coin into the bank. Antique mechanical banks are very valuable. Presently, some are worth thousands of dollars.

Collectors who prefer older models should look to flea markets, estate sales, antique shops, auctions, and other collectors to expand their collection. It is a good idea to do your homework before purchasing antique or second hand banks. Reproductions of older banks are common and dishonest dealer may try to sell a reproduction based on what the original bank is worth!

Suppose you come across an older bank which isn't in the best of condition. Should you attempt to restore your find? Unless undertaken by a professional restoration of toy banks is not encouraged. Restoration by an amateur could result in damage which would greatly decrease the value of the toy.

Some mechanical bank makers also created still banks as an affordable alternative. Building-shaped banks are possibly the largest type of still bank. From cottages to mansions, or shops to skyscrapers, collectors could create a city of buildings!

Registering banks are an interesting find for hobbyists. This class of still bank is often shaped as a safe or cash register and may collect certain coins, such as dimes, nickels, or quarters. These banks keep a running tally of the savings within the bank and may not open until a certain value is reached.

For collectors just starting out or on a budget new still and mechanical banks are available in toy, gift, specialty, and department stores.

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