People named the pig-shaped bank after the orange clay, "pygg," from which it was crafted.

The bank retained its name long after artisans stopped using the clay to produce pottery, and eventually the name "pygg" assumed the name "pig bank," and then the name "piggy bank."

The individual who formed the first lump of "pygg" into the shape of a pig either had a sense of humor, or saw symbolism in using the pig as a model. One school of thought insists that the piggy bank is fed the"leftovers" of a ones money until it is fat enough to besmashed, and the money harvested.

Years ago, in German speaking countries, craftsmen gave their apprentices piggy banks to reward them for years of learning their respective trades.

To this day, in the same countries, it is customary to give piggy banks as gifts. Because the belief that a pig brings luck still holds true, at New Years, the so-called "Lucky Pigs" are still exchanged as gifts. The "Lucky Pig," however, cannot be found throughout the world.

One will not find piggy banks in non-pork eating cultures, because pigs are considered filthy, and it is against the peoples' religion.