I Always Spize A Mule Banks, by Bill Norman (second article in this series)

COLLECTORS’ SHOWCASE, Volume 1, Number 4
March/April 1982, pages 27 through 34
OLD MECHANICAL BANKS
of the SHEPARD HARDWARE COMPANY
by Bill Norman
Collectors have sought after old mechanical banks for over 50 years. The nostalgic past of our American heritage is reflected in the interesting themes and animated action of these toy savings banks, making them educational and timelessly wonderful objects to behold.
Mechanical banks began to appear shortly after the end of the American Civil War and the American public was eager to purchase them. This market was generated as a natural outgrowth of the events that occurred during the war years (1862-1865). There was a severe coin shortage during this time, due in part because the public was saving (hoarding) them. In fact, the situation got so bad that postage stamps were often used to make change. Both the Union and Confederate governments began issuing paper notes to supplement their coinage and help relieve this problem. But, as you can well imagine, the public didn’t like paper money. This currency wasn’t trusted. It could become as worthless as last week’s newspaper, especially of the side that would lose the war. However, coins would always retain some metallic value.
Hence, mechanical banks were a product of the times and their popularity remained strong well into the 20^th century. Not only were they fun toys, but parents could effectively use them to teach their children the practical aspects of being thrifty. What a great idea!
One outstanding and important producer of old mechanical banks was the Shepard Hardware Company of Buffalo, New York, and it is the old Shepard operation and their banks that this article is all about.
The Old Shepard Operation
Relatively little is known about the Shepard Hardware Company. They were obviously in the business of designing and selling hardware items, as were some of the other producers of cast iron mechanical banks. Much can be learned about their hardware business, by studying the many hardware related design patents they held. There are no remains of the company. So, visiting the original site in Buffalo, New York, will generate little information.
Walter J. and Charles G. Shepard were apparently the main principals in the business, which can be surmised by the fact that all Shepard bank design patents were owned or assigned to them. I doubt if anyone knows whether they were brothers, father and son, cousins, or what. However, Charles was an inventor. He and Peter Adams co-patented the designs for at least 12 of Shepard’s 15 mechanical banks and, in each case, Mr. Adams assigned his interest over to Walter J. Shepard of the same company.
I would speculate that Walter was probably more business oriented than Charles and probably tended to administrative matters, while Charles worked on the bank designs with Adams.
In any event, Shepard entered into the mechanical bank field in about 1882 and available information indicates they sold out their line of toy banks in 1892. The impact Shepard had on the mechanical bank market was astounding when you consider the fact they were able to design, patent, produce, and effectively distribute 15 high quality banks within a time span of only about 10 years.
It is a generally accepted fact that Shepard originated the full color “trading card” method of advertising mechanical banks. These cards are about 2-1/2' X 5-1/2' in size and were printed on thick paper stock. They were used by Shepard bank dealers to promote the sale of the banks to their customers. Each card shows the retail price at $1.00 each for a bank. Introductory dealer cards also listed the wholesale bank price, which was $8.50 per dozen. This translates to about 70¢ each, for a 30% wholesale discount.
Old mechanical bank trading cards have become quite collectable and are difficult to find. Examples of Shepard cards are illustrated herein. Wherever possible, the bank operating instructions are directly quoted from an old trading card. It’s interesting to note that Shepard paid little attention to grammatical correctness. I think you will find Shepard’s wording and lack of punctuation nostalgically amusing.
Characteristics of Shepard’s Banks
Several identifying features are common to Shepard mechanical banks.
In the first place, their artistic paint jobs were unsurpassed for attention to minute detail. It’s amazing that a high production cast iron toy could contain the incredible craftsmanship that Shepard got from their painters. However, on the negative side, they used no primer coating to prepare the metal for painting, which accounts for why most Shepard banks are found in such poor paint condition. It simply flaked off the bank. But, if you are fortunate enough to have a fine condition Shepard mechanical, you will appreciate the quality of its fine artistic paint job.
Secondly, each Shepard bank has its name embossed on one of the casting pieces. The name is generally in large bold letters located on the front panel of the bank. Some mechanicals, of the other manufacturers, had no name on them, with the result that many banks are known by names other than the ones originally given them. Shepard mechanicals do not fall into this category.
And, in the third place, each Shepard mechanical is very heavy for its physical size. It’s almost as if cast iron was free and had no bearing on the production cost of the items. An interesting footnote is the first 8 Shepard banks can be categorized in groups of two. It’s almost like they were designed in pairs.
The 15 Shepard Banks
1. JOLLY NIGGER BANK
Patented March 14, 1882, #12,814.
“The Coin is placed in the palm of the hand when the Arm is raised automatically by a small projecting thumb-piece behind the left shoulder depositing the coin in the mouth: the tongue falling back and the eyes rolling upwards at the same time.”
Today, some people might find this characterization offensive. However, the black race was thought of as a happy-go-lucky bunch, which is reflected by the smile on his face. This bank was by far the most popular mechanical theme of all time. It was produced for 10 years by Shepard, which was followed with another 40 years of production by the J. & E. Stevens Company. In addition, many similar banks were made in England, and countless reproductions make it difficult to discern the modern banks from the “old” (Pre-1935) items. (The base length is 5-13/16'.)
2. HUMPTY DUMPTY BANK
Patented June 17, 1884, # 15,085.
“The Coin is placed in the hand, the arm is then raised by a small projecting thumb piece behind the left shoulder, the Coin being deposited in the mouth, the tongue falling back and the eyes rolling upwards at the same time.” (Same action, different wording, as the JOLLY NIGGER BANK.)
Humpty Dumpty was a famous and beloved clown of the era, who was portrayed by George L. Fox. In 1975 Mr. Sy Schreckinger (a mechanical bank collector) turned up an old 1878 vintage poster of Mr. Fox, which almost looks as if it could have been used to inspire the bank design. (The base length is 5'.)

Metal Money Box With Coin Slot For Sale

3. PUNCH AND JUDY BANK
Patented July 22, 1884, # 15,155.
“Judy receives the Coin in the plate. The thumb-piece at the side is pressed upon, and Punch rushes forward brandishing a club when Judy turns quickly and deposits the Coin in the bank.”
The famous puppet show is fast becoming lost to our young “Sesame Street” generation. However, the term “puppet show” and “Punch & Judy” were almost synonymous for several hundred years.
There are two common lettering variations; large letters, and small letters. The one illustrated is the small letter variety.
4. PICTURE GALLERY BANK

Small Cash Box with Lock and Coin Slot for Kids, Parrency Small Lock Box with Money Tray, 4.9 x 3.7 x 2.3 inch, Blac