The Curious Origin and History of the Piggy Bank

Pig piggy banks, also called simply piggy banks, come not only in the form of pigs, but in all shapes, sizes and colors. Few people know that their history dates back to the Middle Ages in England.

Today everyone has seen a piggy bank in one form or another, even if it's not in the shape of a farm animal. They stand on many children's shelves and have the purpose of collecting pocket money for birthdays or "allowance" from parents. So where did the modern piggy bank come from? First, we need to discuss the idea of containers and various receptacles for storing money and coins, and then move on to the evolution of piggy banks that are known and loved today.

The origin and use of the true piggy bank dates back to the Middle Ages. However, the idea of storing coins in a "jar" or some kind of vessel is much older than that. The oldest known preserved money receptacle in the world, dating back to the 2nd century BC, was found in Greece at the site of the ancient city of Priene. In shape it resembles an ancient Greek temple. It is possible that donations were put into it for religious purposes.

It is part of the Berlin Antiquities Collection (a world-renowned collection of ancient art that houses thousands of fascinating archaeological finds of ancient Greek, Roman, Etruscan and Cypriot origin) at the Berlin State Museum in Germany. Other piggy banks, which were used to hold physical coins such as drachmas or tetradrachms, have been found in wealthy cities, including in Pompeii.

Banking or the system of keeping track of money dates back to the B.C. period. Records of loans are found in Athens in the classical era. Some people could get money at 12% interest per annum. The system developed by the ancient banks helped the Greek economy and then continued into Roman times.

The creation of the institutions that people now know as modern banks dates back to the medieval era. At that time, there were three main types of banks or "bankers": merchant bankers, moneychangers and pawnbrokers.

Interestingly, despite the fact that banks were important to the economy and useful to the people, the profession of banker was looked down upon as an "inferior" profession. They were seen as sinners, evil and greedy, those encouraged by priests and clergy. Even greedy bankers manipulating innocent people are found in the literature of the time.

Coin jars were created as far back as 500-1400 BC. How did piggy banks come to be? Why are these containers now sold to children and why are they called piggy banks?

The term "piggy bank" comes from the word "pygg", which originated in the Middle Ages in England. Pygg is a type of clay that was used in households to make various objects, such as pots and bowls, and was orange in color. Since banks were not yet in use at that time, money had to be kept in the house.

These clay pots, called "pygg jars" (pig pots) were used to hold spices and salt as well as coins. Pygg was originally pronounced "pug" because of the Saxon pronunciation, but over time it changed to "pig".

In the early Middle Ages, pigs were one of the sources of food, though far from the only or even the most popular meat (beef or owl were the main meat eaten). Pigs were considered dirty and greedy animals, and this reputation was woven into many stories and tales.

It was in the 1100s that the first pig-shaped coin jar appeared, at least as far as is known today. Although it was not the cute little pig as it is now imagined, it was more in the shape of a wild boar.

Traditionally, these piggy banks were made of clay, so that if necessary, they could be easily broken and coins could be obtained. A hole in the bottom, from which you can get money without damaging the piggy bank, was made much later.

Pig-shaped pig-shaped piggy banks have also been discovered in East Java, Indonesia. These archaeological finds date back to the 13th-16th centuries. In the Indonesian language, the word "piggy bank" - celengan - and the word "boar" - celeng - are homonyms.

According to some cultural experts, the idea of keeping savings in a pig-shaped piggy bank originated in Chinese culture, where this animal is a symbol of wealth and prosperity.

Since early piggy banks had no holes to remove coins, to get the money out you had to break the pig, hence the expression "breaking the bank". Because of this, intact terracotta pots are rarely found intact, making them incredibly valuable. One such pot from Majapahit, which was over 500 years old, was sold at auction for 10,000 US dollars.

Today, piggy banks are considered a symbol of happiness and are given as Christmas or birthday gifts, especially to children. This is partly why piggy banks have become small, round, light and cute, to attract the attention of young children. This is how children learn about saving and financial literacy.

Today piggy banks don't have to be pig-shaped, they come in many different shapes, sizes, colors and materials, and they have changed significantly over time from what were originally clay pots.