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Mechanical coin banks are banks that when a coin is deposited, the coin sets a mechanical action. Some of these start the action as the coin flows into the bank. Yet with others the action is started by the user pressing a button or lever after the coin is placed. These cast iron banks were put into production after the Civil War, at the start of the industrial age. Prior to that most toys were made of wood, tin or sheet metal. Parents of the time wanted to instill thriftiness into their children, and the toy makers were quick to cash in with saving ideas.
The first mechanical bank was of "Hall's Excelsior" made by J.& E. Stevens in 1869. It was also the first of many banks designed as a building, (which later was a major design of still banks). This first bank was 5 inches tall, with a monkey sitting on top the building, you placed a coin on the tray in the monkeys lap, pull the string and the monkey disappears inside to deposit the coin. This bank was produced in many colors, and value depending on color. The yellow one currently values at $300 - $900.00 depending on condition.
Since that first mechanical bank, many other styles and designs were produced until World War II, and then many reproductions started to enter the market place. The most sought after is that of "Jonah and the Whale", also by Stevens, produced in the 1880s - can be worth over $55,000.00. But a "Jonah and the Whale" by Shepard Hardware, produced in the 1890’s is valued at only $4,500.00. With few exceptions (German, France, & England), many of the reproductions have just a country's name (such as TAIWAN) and no makers name. Even though serious collectors don't want these reproductions, many reproductions are rapidly increasing in value as well.
When buying or selling mechanical coin banks be sure to get exact size, as originals have the correct sizes listed in price guides, and reproductions are usually some what off from stated sizes.
Most collectors of mechanical coin banks don't want banks that:
a.) Are repainted;
b.) Say "Book of Knowledge";
c.) Mechanical Banks made after 1930;
d.) Reproductions. A major give away on these reproductions is the use of a Philips screw. As most of the collectible mechanical coin banks that are sought were made in the late 1800’s to the early 1900’s, and the Phillips screw was not invented until 1934. Some have tried to use a modern flat head screw. The give away again is the new screws are made of zinc or stainless steel. The original flat head screws were all steel, and therefore subject to rust.
Though a few of the original makers are "unknown", many of the sought after mechanical bank makers names and or patent information is printed in the molding of the bank.
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