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Cast Iron Mechanical Piggy Banks

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Collectable Cast Iron Mechanical Piggy Banks

Cast iron mechanical banks originally came about as a way for banks to promote saving and banking to children.

Cheap and pliable, cast iron could be molded into a recognizable form, such as the Uncle Sam Cast Iron bank, and given away as a promotional tool, to children. The intent was to encourage the children to save their money in the toy bank, and then, when it was too full to hold any more coins, to deposit that savings into the real bank.

They are called "Mechanical" banks, because they move. A true Piggy bank, is called a "still" bank, by collectors. Cast iron mechanical banks have been around for over a hundred years and they have become very collectable. As with anything that is collectable, the value of an original piece, such as the Uncle Sam Mechanical bank, can be very high. It also means that the chance for fraud and deception is likely, so the buyer should beware.

If you are thinking about purchasing a mechanical toy bank, for the sure pleasure of having one around to play with, as a decoration piece, or as a gift to a child or grand-child, a $10.00 to $60.00 replica mechanical toy bank is what you need. If you are thinking about purchasing an antique mechanical bank, all I can tell you is to be very careful. The mechanical bank market is full of unscrupulous people, and very detailed replicas, that would like nothing more than to separate the unsuspecting buyer, from their money.

Jolly Man "African Bank"

This Jolly Man "African" cast iron mechanical bank was made in England in 1910. When you place a coin in his hand, and press the lever on the back, the arm goes up, the tongue comes out to accept the coin, and his eyes roll to the back of his head as he swallows the coin.

Though this page is not designed to be a buyers guide to antique mechanical banks, I thought that it would be interesting to give you an idea of the value of one of these original mechanical banks, and on what that value is based upon.

For the most part, the value is based on the availability and condition of the piece. The Jolly Man "African" mechanical bank is one of the more common pieces out there. Should you find an original, that is in "fair" condition, meaning that it is an original, it works, and has about 50 percent of it's original paint, you should expect to spend at least $500.00 for it.

The prices just go up from there. In the same mechanical condition, yet with 75% of the original paint still intact, the price of this cast iron mechanical toy bank jumps up to about $1300.00.

Now, should you already have one of these little guys, and the paint is in rough shape, do not even think about touching it up with a fresh coat of paint.

People who buy these want them in as original condition as possible. They want the blemishes and all. Should you touch it up with new paint, you just ruined it for the collector.

If by some chance you do have an original Jolly Man "African" mechanical toy bank, and it has 98% of it's original paint still intact. You should consider yourself to be very lucky. That little fella is worth about $6000.00. So take very good care of it.

Just so you know, the market price on mechanical banks does fluctuate. These rates are not set in stone and the author is not responsible for any variations there of.

For more indepth details on mechanical bank, history, condition, and value, please take a look at The Official Price Guide to Mechanical Banks

Books on Mechanical Banks

My Favorite Mechanical Bank

Out of my humble mechanical bank collection, I have to admit, my favorite piece is the 1993 Coca-Cola Santa Claus mechanical bank.

He only comes out of his box around Christmas time and the kids love to play with him.

When you place a coin in the toy train at his feet, then slide the train over to drop the coin, his right arm goes up, and it looks as if Santa is taking a sip from his Coca-Cola bottle.

Unfortunately, the Coca-Cola bottle fell out of my Santa's hand at some point. Odds are, it was sucked up by the vacuum along with some pine needles and tinsel, so it now looks as if my Santa is giving the "Thumbs-up" sign, when the train is moved back and forth.

Coca-Cola Banks

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Mechanical Bank Comment Section

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blackspanielgallery Jan 29, 2012 @ 6:49 pm | delete

Nice lens

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kansasww Jan 6, 2012 @ 6:26 pm | delete

Mechanical banks have been popular with diecast collectors for many years, I just saw a great selection of them at a recent show in the midwest.

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Staceysk Sep 25, 2011 @ 7:44 pm | delete

Very cute. I guess like all antiques, it all depends on how many people want one and what they are willing to pay.

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djroll Mar 27, 2011 @ 1:39 pm | delete

Nice lens. There's something special about mechanical banks. I bought one a few years ago for an elderly neighbor for his birthday. It took him back to happier days when he was a child and had so much fun playing with them.

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GetSillyProductions Feb 22, 2011 @ 7:40 am | delete

I like collectibles like this. They sure made things to last back in the day, not like the cheap plastic crap that breaks all the time nowadays.