You Can Still Bank On It
Elliotte M. Harold, Jr.

In discussing any topic it is always good to have terms defined. Because this article addresses still banks we must start with knowing exactly what a still bank is. A still bank is simply a closed container with a slot in it in which coins may be deposited for safekeeping or accumulation. There may or may not be a means of gaining access to remove the coins. Still banks are contrasted with mechanical banks that perform some function, either when a coin is deposited or in depositing the coin. A “nodder”, typically a figure of a person or animal, would be a simple example of the former. When a coin is dropped into the bank’s slot it strikes a wire that causes the head of the figure to nod back and forth. Most of you have probably seen the modern plastic bank in the form of a coffin. When a coin is laid on the bank and a button is pushed the top of the coffin opens and a skeletal hand comes out, grabs the coin and returns it to the coffin. This is an example of the other type of mechanical bank. Rather than the coin activating a mechanism, the mechanism deposits the coin.

I suspect that all of us as children had a still bank, probably one of the ubiquitous piggy banks. One theory is that the original piggy bank dates to the 15th century and was called a piggy bank not because it was in the shape of a pig but because it was made out of “pygg”, an Old English word for a reddish-orange clay that was used to make pots, cups, and utensils for the peasants who could not afford metal items. Spare coins would be kept in a bowl or cup. These came to be known as “pygg banks” and by the 18th century potters started to make containers to serve solely as banks and they made them in the form of pigs. Today there are those who collect only piggy banks, modern or antique, and organizations exist to serve this specialized collecting community.

Since the 18th or 19th centuries still banks have been made of many materials and continue to be produced in many materials to the present. Think of any material and there has probably been a bank made out of it and also collectors who specialize in banks of that type of material. To name a few, banks are made of wood, glass, plastic, cardboard, ceramic, papier mache’, and metals of all types such as cast iron, silver, lead, steel, pot metal, brass, and bronze. This article will concentrate on what many collectors consider the crème de la crème of still banks, cast iron banks manufactured from the middle of the 19th century until about the start of World War II. This is not to denigrate collectors or collections of banks of other materials. There are many beautiful banks of other materials and many outstanding collections that include no cast iron banks.

Although there were numerous manufacturers of cast iron banks, the makers of many banks remain unidentified. Most companies started making banks as a sideline. Some later concentrated on banks and toys such as the Arcade Manufacturing Company of Freeport, Illinois that was originally a producer of iron goods for home and industry or the A. C. Williams Company of Ravenna, Ohio that started as a manufacturer of stoves, flat irons, and pruning tools. There is always an exception to the rule and for this we look to the Hubley Manufacturing Company of Lancaster, Pennsylvania. It was a producer of toys and banks from its founding. These were the “Big Three” of U.S. bank manufacturers. Other important U.S. manufacturers were Kenton, J. & E. Stevens, Ober, and Kyser & Rex. Well known British manufacturers were John Harper, Sydenham & McOustra, and Chamberlain & Hill.

As can be seen in the accompanying pictures, there are many cast iron banks marked “Made in Canada”. However, the only Canadian company that has been positively identified as a manufacturer of cast iron banks is the Beaverton Toy Company of Beaverton, Ontario. Numerous Canadian manufacturers of banks of other materials, especially tin, have been identified. Graham Jones of Ontario is the foremost authority on “Made in Canada” banks. He has published a book on Canadian banks that will be noted below in the discussion of reference books.

Still banks come in many forms, among them, figurals, animals or birds, buildings, vehicles and ships, safes with either combination or key locks, and household appliances. Some of these form the bases of specialized collections and clubs. Buildings are a particularly important specialty area.

Condition is extremely important to most modern collectors. Rust, damage, cracks, or a worn finish all detract from value and desirability. Unlike some collecting areas, pedal cars for example, restoration is frowned on. Repaints, touch-ups, a replaced screw or other part, all cause a collector to pause before buying. However, beauty, as the old saying goes, is in the eye of the beholder. Some collectors want their banks to show that they were played with and loved. Others want an example in as near mint condition as possible and continually upgrade their collections trying to obtain examples that look as if they never saw the light of day. Many of the early collectors were more interested in obtaining an example of every bank they could find and gave not a thought to condition. In the end, the sole arbiter of acceptable condition is the collector himself. Do not let someone talk you into buying a bank in a condition that you’re not going to be happy with when you see the bank on your shelf.

Naturally, a bank must be original before a collector is normally interested. Many banks have been reproduced and there are many fantasy banks in the market – banks that were never produced in the past. E-bay is full of repros and new banks being sold as “antique” or “vintage”. For someone who has seen and handled large numbers of original banks, detecting a reproduction is not too difficult. It is another story for a beginner so I will give a few easily spotted items to look for. The craftsmanship of original banks was very good. Not so with reproductions and new banks. So look for tight, neat seams. If the halves of a bank do not seem to fit together well the bank is probably a reproduction. There were no Phillips head screws used on any original bank. All screws had a single slot. Sand used in casting iron today is not as fine as that used a hundred years ago. This causes the feel of an old bank to be very smooth compared to a new bank that will have a rough, pebbly feel. Few original banks survived in mint condition so look for paint wear, especially in areas that would be handled, such as the stomach area on a figural bank or the mid-section of an animal. When examining a bank think of where you would instinctively pick it up. If there is no wear at that point pass up the bank. Wear is common around the slot. The paint itself is a good indicator of age. Simple banks were often dipped so you expect to find paint inside that dripped through the slot. Brushes were used only for detail work so beware if you see brush strokes or a bristle stuck in the paint. Crazing is usually a good sign of age because modern paints are less susceptible to crazing. New banks are often bright gold or flat black. New banks rust more evenly than old ones. Do not buy a bank that shows rust. Older paints chip more easily than modern paints. Scratches or scrapes rather than chips are more common in newer banks. Extremely heavy banks are usually not original. There are more sophisticated detection methods such as the use of “black” (ultraviolet) light and precise comparison measurements but the above should help a beginner know what to look for.

Except for the rare, more expensive banks, professional repairs are usually not worth the cost. Therefore, most repairs are fairly rough and a cursory inspection should serve to see if a piece has broken off and is missing or has been replaced or glued back on. Repaints and touch-ups are another matter. These are much more common in still banks than repairs. Look for brush strokes and indentations that might indicate that a chip has been filled in. Touch-ups are easily detected with a black light because modern paints fluoresce at different wavelengths than older paints.

Antique cast iron banks can be bought for as little as $50.00 to well over $5,000.00. Banks of other materials can be purchased more cheaply although lead banks can be very expensive because of their intricate molding. As in any field, a newcomer to bank collecting is well advised to educate himself. There are numerous excellent reference books available but contact with other collectors can’t be beat as a means of education. The best way to meet other collectors is through a club. As mentioned above, there are organizations serving specialized collecting interests, such as piggy banks, but for those with a wider range of interest, the Still Bank Collectors Club of America (SBCCA) is an organization that welcomes collectors of varied interests and experience. As Membership Chairman of the SBCCA, the author admits a personal bias but can also assure new members a warm welcome. The club has members from all over the world but the majority hail from the United States and Canada. It publishes a magazine three times a year and has an annual convention in June. To learn more about the SBCCA go to its website www.stillbankclub.com.

There are smaller clubs whose members are concentrated geographically such as the Gateway Penny Bank Club, with most members being from the St. Louis, Missouri area and the Mid-Atlantic Penny Bank Club whose members are mostly from the mid-Atlantic states and eastern Canada. There is also the European Money Box Club that has a number of North American members. Other clubs have a membership that includes not only bank collectors but also those with interests other than banks such as the Mid-America Bank, Building, and Promo Club and the Figural Cast Iron Collectors Club. Contact the author for membership information on any of these clubs.

Sources of banks are as varied as the banks themselves. While the days of finding an under priced treasure at an antiques mall, flea market, or garage sale are probably gone forever it is not unusual to find more common banks in fairly good condition in such places. Unfortunately, many sellers have read the stories of still banks selling for high prices and ignore the importance of condition and rarity as the main contributors to price. There are plenty of rusty, broken, common banks for sale with price tags that rival those of the most rare and pristine examples. There are shops and malls that specialize in banks and toys. If you are fortunate enough to live in an area with a specialized shop or mall you will have not only a source of banks but also a source of education. Do not hesitate to ask questions and seek information to increase your knowledge. Other good sources are auctions, antique shows, and ads in specialized trade magazines. Although some wonderful banks show up on E-Bay unless you know the seller or get an ironclad return assurance it is not wise for a beginner to purchase expensive banks online. A beginning collector can find good examples of common banks on E-bay but the catch is that many of these have been reproduced. “Not a repro” is a common phrase used by sellers who would not recognize one if his life depended on it.

You will find auctions advertised in many antiques magazines and newspapers. Most auction houses accept absentee and phone bids and many of them have started using internet bidding through companies such as Live Auctioneers. A problem with absentee bidding is that you are relying on digital photos and the auction house’s description of condition.

Toy shows and some antique shows are a good source of banks. Being able to examine a bank and talk to the dealer saves many later headaches. I was recently offered a rare bank by a dealer noted for his knowledge and honesty. He said the bank was pristine but it was an intricately cast bank and close examination revealed a casting flaw not readily observed. He was pleased that I pointed this out to him. I have no doubt that he did not know the flaw was there. A few basic pieces of equipment can be a big help when shopping shows and malls. My “show pack” consists of a magnet, a small magnifying glass, a small retractable tape measure (a ruler would suffice), and a battery operated black light. There are many sources of black lights in the $10 - $20 range listed on the internet.

How does a beginner become knowledgeable? As in any field, the answer is education. There are numerous reference books available that I’ll discuss below but the best way is personal contact with other collectors and the best way to meet other collectors is through a club like those mentioned above. I cannot speak for all clubs but as Membership Chairman of the SBCCA I try either to answer questions new members may have or put them in touch with other members who have the requisite knowledge. I’ve never known a bank collector to refuse to share his or her knowledge.

A good general reference book that most collectors use is The Penny Bank Book by Andy and Susan Moore. Originally published in 1984, the book is in its third edition. While heavily weighted towards cast iron banks it includes examples of banks of many other materials. It also has a lot of valuable general information on collecting banks and many pages of ads from original catalogs. It almost makes a collector cry to see a manufacturer offering banks for $6.00 per dozen when a nice example today might sell at auction for hundreds of dollars. Another very good general reference is Penny Banks Around the World by Don Duer. Out of print but findable is Dictionary of Still Banks by Earnest and Ida Long and Jane Pitman. Graham J. F. Jones, mentioned above, authored Canadian Penny Banks. Some more specialized references include Ceramic Coin Banks by Tom and Loretta Stoddard, Chein Banks by Bob McCumber, Coin Banks by Banthrico by James Redwine, Collector’s Guide to Glass Banks by Charles Reynolds, and The Architecture of Cast Iron Banks by Don Duer. Most current reference books include a price guide. Do not take the values shown as the gospel truth. Some authors do a good job of reviewing auction results, consulting dealers and advanced collectors to arrive at their prices but others simply come up with their own subjective judgments and there is seldom any way of telling the difference.

For more information on bank collecting or the Still Bank Collectors Club of America, please feel free to contact the author by e-mail atmbrchm@bellsouth.net.