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Federal Reserve Bank of New York Essential Information

By Heather Cross, About.com

Gold in the Vault

Gold in the Fed Vault

Federal Reserve Bank of New York
The Federal Reserve Bank of New York in Brief:
Located in the heart of Manhattan's financial district, the Federal Reserve Bank of New York offers free tours to visitors. The tours include an introduction to the banking system of the United States and the role of "The Fed" in the U.S. economy, as well as a chance to visit the Gold Vault located five stories below street level. The building itself is impressive, combining detailed wrought ironwork with features from the Renaissance palaces of Florence.
Planning Your Visit to the Federal Reserve Bank of New York:
  • Reservations are essential for taking a tour of the Federal Reserve Bank of New York
  • Reservations can be made by email (frbnytours@ny.frb.org), but calling 212-720-6130 will allow you immediate information about availability
  • There is typically a 3-4 week wait for tickets, so call once you've finalized your travel dates to secure your tickets
  • Tours last approximately an hour, and begin on the half hour from 9:30 a.m. - 2:30 p.m. daily.
Security at the Federal Reserve Bank of New York:
  • Arrive approximately 10-15 minutes before your tour to clear security
  • All visitors must pass through a metal detector and have their bags xrayed before entering the building
  • Visitors will be required to lock up their cameras, backpacks and any other packages they have with them before beginning the tour
  • No note taking or photographs are allowed during the tour
Federal Reserve Bank of New York Basics:
Federal Reserve Bank of New York Admission:
Admission is free, but you must reserve at least 5 business days in advance.
Federal Reserve Bank of New York Pictures:
Pictures of the Federal Reserve Bank of New York
About Federal Reserve Bank of New York:
The Federal Reserve Bank of New York is one of 12 regional banks in the Federal Reserve System. Located in Manhattan's financial district, free tours of the Federal Reserve Bank of New York offer visitors the unique opportunity to view the Gold Vault, as well as a chance to learn more about the Federal Reserve System and its role in the U.S. economy.

After clearing security, our bags were secured in a locker and we were given time to explore "Drachmas, Doubloons and Dollars: The History of Money." The exhibition featured over 800 coins from the American Numismatic Society's collection, spanning over 3000 years. Especially interesting is the 1933 Double Eagle coin on display: with a face value of $20, it was sold at auction for over $7 million dollars.

Our tour guide then led us through some interactive exhibits -- including a gold bar that appears to be within reach and a display of shredded $100 bills. Teens can learn alot about the U.S. economy and how money is made, as well as the Federal Reserve System by exploring these displays.

Since the Federal Reserve Bank of New York doesn't do cash processing in Manhattan, there is a short video that illustrates how cash is processed at the Federal Reserve, as well as how new currency is introduced into circulation and older bills are destroyed.

The highlight of the visit was descending 5 stories below street level to see the Gold Vault. I was surprised to discover that nearly all the gold at the bank is actually owned by foreign central banks and international monetary institutions.

On the tour, it's easy to forget to look around to observe the beautiful architecture of the bank. So be sure to take some time to notice the elements of the building that were inspired by the Renaissance palaces of Florence and the wrought ironwork.

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