BY SY SCHRECKINGER
“TIME IS MONEY” and “a penny saved is a penny earned” are but two of many familiar expressions coined in an earlier age. These proverbs and maxims were said to be the inspiration for entrepreneurs of the late nineteenth and early twentieth centuries. Toys and various other merchandise were created to teach young children the virtues of saving and thrift.
It was during this era that the first patented mechanical penny bank, i.e. “Bureau Bank, Serrill patent”, was introduced to the marketplace.
Encouraging sales resulted in a new and profitable business venture. The period spanning 1869 through 1935 saw the birth of more than five hundred different banks portraying various subjects. One category encompassed mechanicals reflecting the aforementioned adages. Such notables included “Time is Money Bank”, “Time Lock Savings Bank”, “Time Registering Bank”, “Registering Dime Savings” (subject of this article), etc.