Collecting still and mechanical banks

Early colonists had little use for the money they brought with them from England. They had to trade and barter among themselves and the native Americans for their needs. The one valuable thing the new settlers did bring with them though was the idea of “thrift” and saving for the future.

Young children were encouraged to read Ben Franklin’s “Poor Richard’s Almanac” as early as 1757, which taught children to work hard and accumulate wealth. The national mint in Philadelphia was founded in 1793 and issued a large cent and a half cent, both of copper. Americans began to look for penny banks to keep their savings in.

The first banks were of tin or stamped metals with engraving or pottery jugs, which typically had to be broken to get the prized savings out. As immigrants began to flood into the country in the 1800s, they brought their styles of money banks to America, which consisted of tankards and cast iron, and rarely, glass.

The banks manufactured during the mid to late 1800s are the mot sought after by collectors because every kind of bank you could imagine was easily and cheaply manufactured after the Civil War and rise of the Industrial Age. Banks commemorating the world’s fairs, architectural wonders, famous politicians and people were mass-produced. Advertisers also picked up on the popularity of these bank and gave them as premiums to customers. The prosperous Victorian era ushered in the “mechanical bank.” These banks actually moved the money in an entertaining fashion before depositing the coin into the bank. The coins dropped into “mouths” or Uncle Sam’s carpetbag, shot into a tree or whale’s mouth. These banks are some of the most popular and highly valuable today.

Some of the attractive things about these banks were the brightly painted colors, detailed moldings and lithography. The ones that retain the most of their original coloring and are in mint condition can be worth hundreds and thousands of dollars! Of course, this antique has been widely copied and reproduced in order to try and fool people and make money. In fact, mechanical banks are probably one of the most “faked” antiques in the marketplace. These rip- offs are often distressed or “rusted” to try and fool unwise collectors. Some of these reproduction were made in the 1960s, so they are now 50 years old and sometimes hard to tell from the real thing.

If you would like to collect these amusing little banks, learn all you can about them and buy from reliable sellers. It is always wise to buy the best examples you can afford. Prices have fluctuated over the years, so make sure to check updated price guides. Here are some values on a few examples: Battleship Maine bank – $825, Boy Scout Bank – $900, Pottery Mammy or Chinese man bank – $300 and Crosley Radio Bank – $575. Happy collecting!

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