Personally I don't think a money bag is necessary mostly because people don't even need the one extra bank space, and it's not something that is in OSRS.
I think a classic item would be cool kind of like how ironmen get their own set of armor, but I don't think it should be something like the Sir Owen's Longsword that some of us know other servers have done in the past.
Something that is cool and cosmetic would be nice.