The Many Names of the Piggy Bank: A Cultural History of Where We Put Our Penny Savings

When we think of childhood savings, one universal image almost always comes to mind: a plump, ceramic pig with a slot on its back. Dropping a coin inside brings that satisfying metallic clink, a sound synonymous with earning, waiting, and growing your wealth.

Yet, as common as the “piggy bank” is today, the object itself carries a linguistic quirk. Why do we call a container shaped like a completely unrelated animal—or sometimes not shaped like an animal at all—a “piggy bank”?

From medieval English etymology to global ceramic traditions, the history behind the names we give our childhood money pots reveals a fascinating story of language, folk art, and human thrift.

1. The Literal Names: Money Boxes and Coin Banks

Before the pink pig became the reigning monarch of childhood finance, these receptacles were simply described by their function and material.

• Money Box / Coin Box: In British English and many parts of the Commonwealth, a piggy bank is most commonly referred to as a money box. It is a straightforward, literal description. Whether made of tin, wood, or plastic, if it holds coins and has a slot, it qualifies.
• Savings Bank: Often used in a more formal or institutional context, though historically applied to small, personal countertop vaults marketed to children by actual banks to encourage early saving habits.

2. The Great Etymological Mix-Up: How the “Pig” Got Its Name

The story of how a ceramic pig became the quintessential “piggy bank” is one of language evolution and a historical misunderstanding of materials.

Long before modern plastics or mass-produced ceramics, English households stored their spare coins in jars and pots made of a dense, orange-colored clay known as pygg.

During the late Middle Ages and the Renaissance, potters would craft jars out of pygg clay to hold loose money, commonly referred to by locals as “pygg jars” or “pygg banks.”

Fast-forward a few centuries: the English language shifted. The word pygg fell out of favor, replaced by the modern word pig. By the 19th century, English potters—taking literal inspiration from the homophone “pygg” and “pig”—began molding money boxes directly into the shape of actual piglets. What started as a linguistic coincidence turned into a literal art form, cementing the iconic animal shape in global culture.

3. Global Variations and Alternative Names

Different cultures view the concept of saving pocket change through unique artistic and linguistic lenses. While English speakers default to the pig, other traditions look elsewhere for inspiration.

• The Spanish Alcancía: In the Spanish-speaking world, a coin bank is called an alcancía (a word derived from Arabic roots signifying an earthenware vessel). While modern alcancías can look like anything, traditional ones were often spherical terra-cotta balls designed with a catch-22: to get your money out, you had to smash it.
• The German Sparschwein: Directly translating to “saving pig,” German culture embraces the pig analogy just as warmly as English speakers do. Gifting a Sparschwein is a traditional gesture wishing someone good luck and financial prosperity (Glücksschwein).
• The Japanese Chokinbako: Meaning literally “savings box,” Japanese money boxes span an incredible range of designs. From traditional ceramic cats (Maneki-neko) that beckon wealth to high-tech mechanical boxes that “eat” your coins, the terminology remains functional while the designs remain playful.

4. The Evolution of the Saving Vessel

Today, the vocabulary surrounding where we keep our short-term cash has expanded alongside technology.

• Digital Piggy Banks: Modern children’s smart banks feature LCD screens, digital counters, and password protection, shifting the name toward “electronic coin counters” or “smart vaults.”
• The Metaphorical “Piggy Bank”: In adult financial conversations, the term has transcended the physical object entirely. We talk about “dipping into our piggy bank” to describe tapping into an emergency fund, a retirement account, or a rainy-day reserve.

Why the Pig Endures

No matter what you call it—whether you grew up dropping coins into a money box, a coin bank, a Sparschwein, or a literal pygg jar—the object represents more than just currency storage. It is a tangible milestone of patience.