It is amazing to see the various clever ways in which the designers figured out entertaining ways to get a penny into the bank. This bank features a classic scene in which the penny is shot from a crossbow over the head of William Tell.
From the ebay description of the mechanical bank:
The Bank features the figure of William Tell pointing a rifle shaped weapon at an apple on the head of a little boy who stands in front of a castle tower. To operate, the odd shaped piece on the top of the gun barrel is pressed back until it snaps into position. This "loading" of the mechanism also causes the head of William Tell to lower into a position that makes it appear he is taking aim at the apple. A coin is placed on top of the barrel just in front of the odd shaped piece. The boy’s right arm is pulled down bringing the apple to the top of his head. When the right foot of William Tell is pressed down he fires the gun and the coin shoots forward knocking the apple from the boy’s head as he raises his right arm. The coin is deposited inside the castle tower ringing a bell and the head of William Tell falls backwards. The mechanism here is in excellent working condition.
The William Tell Bank was patented in 1896 by Russell Frisbie and manufactured by J & E. Stevens for a several years.
Here is where you can see additional pictures and read more about this William Tell cast iron mechanical bank from 1896.