Sale of cast-iron βJonah and the Whaleβ bank exceeds pre-auction estimates
When a mechanical cast-iron bank based on the Bible story featuring Jonah and a whale brought $119,125 last month at Morphy Auctions in Denver, Pa., few were surprised. One of the most desired original banks, this was a first-rate example. Made in the late 1880s by the J. & E. Stevens Co., it is by the premier maker of cast-iron mechanical banks. Original retail price for most iron banks at the time was around $1 apiece.
MORE: J. & E. Stevens Co. banks are prized as heavy and well-cast. They featured detailed surface painting and bear the makerβs name. Most other early banks were unmarked.
SMART COLLECTORS KNOW: Collected since they became popular shortly after the Civil War, cast-iron banks were made as still or mechanical pieces. Simply put, mechanicals had action; stills were just that: immobile.
Cast-iron banks were so popular that banks and institutions often used them as giveaways or premiums. Usually cast as replicas of the building doing the giving, the form is just one genre. Some fans collect figurals, others want only regional examples, and so on.
HOT TIP: To operate the bank, the user places a coin into the small boat and presses a lever. The coin falls into the bank as the whale opens his mouth and Jonah pops out.
NOTE: J. & E. Stevens Co. and its predecessor made several versions of the βJonahβ bank. This version is rare.
BOTTOM LINE: Age and condition are paramount for serious collectors. The more as-original an old bank is, the better.
CAVEAT: These types of banks are still made, as fakes intended to deceive and as copies. Most are aluminum and easily spotted. Some old fakes are well done and harder to detect.
