Way back in the 15th century, many household objects such as pots and jars were made of a type of clay called “pygg”. As it happened people often saved up their money by storing it in those kitchen pots and jars, calling them “pygg jars.” Sometime in the 18th century, apparently someone asked for a “pygg bank” expecting a clay container to store money in; however it resulted in a pig-shaped bank. Thus, an icon was born.
Source: Uncommon Goods catalog
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