Antique 1891 Cast Iron Nickel-Plated Traders Savings Bank of Canada Coin Bank. This amazingly rare Traders Bank of Canada cast iron bank is in incredible condition with no broken parts and its original patina. All finials are intact and what is believed to be an original lock & key are also included, making this example a truly rare piece. Comes complete with insert. Door swings open and close smoothly. Only 1500 were made of which a large number were likely scrapped after the bank discontinued use. The top of the bank bears the Traders Bank identity, as well as the name of it’s “inventor” Aemilius Jarvis, and the date , 1891. Front side reads: Colborne St. With the sides reading: The Traders Bank of Canada – Colborne St. The four coin slots are in the front side, each one having a spot for the depositor’s name. Size: 10 1/4″ long x 5 1/4″ wide x 8 1/2 tall. History of the Traders Bank. In 1891 this rather modest five-story building was used as a model for a nickel-plated cast iron savings bank. Referred to by collectors as the traders bank, the idea of issuing a savings banks to the customers was conceived by Aemilius Javis an inspector with the bank. His suggestion wasn’t original; a number of American saving savings banks using the same principal had been produced in the late 1800s. Nonetheless this was the first and only example used in Canada. The intent was that the savings bank would encourage thrift with the banks customers while generating more business for the bank especially from those making small deposits of less than one dollar. Designed with four coin slots the savings bank at no cost to the customer, was delivered to the household or business where each slot was assigned to a different individual, a lock on the front door protected the savings bank and the bank official held the only key. He would also record in the banks memorandum book and make the deposit at the Toronto office. Although anyone could apply for savings bank it was particularly aimed at children, housewives and domestic servants. On the application form where it was called a house hold savings bank servants were encouraged to save at least one half of their wages and the housewife to save the bulk of their allowance to pay the bills by check. The project was a success with more than 1500 accounts being opened but the process of sending an official around to collect proved to be unwieldy, time-consuming and Unsafe. As a result the project lasted for only two years at which time the savings banks were retrieved and stored. Check out our other items! The item “Antique 1891 Cast Iron Nickel-Plated Traders Savings Bank of Canada Coin Bank” is in sale since Wednesday, July 24, 2019. This item is in the category “Collectibles\Banks, Registers & Vending\Still, Piggy Banks\Promotional”. The seller is “treehouseauctions” and is located in East York, Ontario. This item can be shipped worldwide.
- Material: Cast Iron
- Original/Reproduction: Original