The History of Mechanical Toy Banks

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While I was in Vermont last week, my family and I visited the Shelburne Museum. One of the displays that captured my attention was dedicated to old cast iron mechanical banks. I’m sure many of you have seen these things. They come in a variety of forms- from clowns to baseball players. All mechanical banks work on the same two principles: the weight of the deposited coin causes an action to begin or a person pulls a lever that sets the bank in motion.

Mechanical toy banks grew in popularity between 1870 and 1930. The two biggest firms that manufactured mechanical banks were Stevens and W.J. Shepard. After the creation of the first charted savings bank in New York City in 1819, thrift became a national policy. Manufactures felt that mechanical toy banks could help instill that ideal in children. Consequently, most mechanical banks have themes geared towards children such as sports and the circus. However, several mechanical banks illustrated controversial political and social subjects. You’ll find many of the bank designs mirroring the racism of the time by depicting African Americans in offensive stereotypes.

As a kid, I thought old cast iron toy banks were pretty cool. To me, they represent a unique part of Americana. I was happy to see a museum working to preserve this part of our country’s financial history.

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9 Comments

1. Piggy Banks « Life’s Little Notebook on 12.07.2007 at 09:52

   […] of my favourite blogger, The Frugal Law Student wrote a post on The History of Mechanical Toy Banks. The toy banks are really interesting! I wish those kind of coin banks were still produced […]

2. Gloria on 12.07.2007 at 09:55 (Reply)

   Why don’t they make coin boxes like this anymore? I’d sure love to own one of them but I’m sure if they are still available, the price on them will be exorbitant. I would end up with no coins worth mentioning to operate those things.

3. Andrew Flusche on 12.07.2007 at 10:33 (Reply)

   We studied a Copyright case about these banks. It was on the Uncle Sam bank that you posted above. Somebody made a cheap imitation, but it wasn’t “original” enough to warrant copyright protection. image here

4. Brett McKay on 14.07.2007 at 21:24 (Reply)

   Gloria-
   I’ve seen catalogs that sell remakes of these types of banks for reasonable prices. I’ll let you know when I remember which catalog it is.

5. Brett McKay on 14.07.2007 at 21:25 (Reply)

   Andrew-
   That’s interesting! Who knew this post had anything to do with law school?

6. 70 Tidbits and Tips on Personal Finance - The 109th Carnival of Personal Finance - “First Post” Edition » on 16.07.2007 at 08:57

   […] History of Mechanical Toy Banks from Frugal Law Student. First post: 10/28/2006. […]

7. 70 Tidbits and Tips on Personal Finance - The 109th Carnival of Personal Finance - “First Post” Edition » on 16.07.2007 at 08:57

   […] History of Mechanical Toy Banks from Frugal Law Student. First post: 10/28/2006. […]

8. Cash Money Life - A Personal Finance Blog with a Salute to the Military » 109th Edition of the Carnival of Personal Finance on 17.07.2007 at 05:06

   […] The Frugal Law Student - The History of Mechanical Toy Banks. […]

9. 70 Tidbits and Tips on Personal Finance » on 11.02.2008 at 23:01

   […] History of Mechanical Toy Banks from Frugal Law Student. First post: 10/28/2006. […]

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