The Origin of the Piggy BankWhile the exact origin is a little uncertain, historians speculate that the concept of a piggy bank started in England during the Middle Ages, probably in the mid-1500s.
At this point in history, metal was still seldom used and very expensive. So expensive, in fact, that common people did not own any metal cooking pots or utensils. Instead, dishes, jars and cookware were made from an affordable and easily available orange clay that was called "pygg."
Families often kept any spare household coins in one of their clay pygg jars, and these containers became commonly known in England as a pygg jar and later a pygg bank.
Several centuries later -- probably around the eighteenth century -- the name had evolved into piggy bank. Around this same time, a handful of potters began making clay banks in the shape and likeness of the animal namesake, and the first piggy banks were born.
Children and adults were captivated by these new piggy banks and the trend quickly spread throughout England. These early models were usually ceramic and had no hole in the bottom. Sadly, in order to retrieve the money, the pig had to be broken open! As the years went by, someone thought to add a method of emptying the container so the piggy was spared for another round of saving.