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Federal Reserve Bank of Cleveland

by Judith Glynn. Downtown Cleveland, Ohio has seen better days but money still prospers inside the beautiful Federal Reserve Learning Center and Money Museum.

Cleveland has a first-class and free museum that showcases the subject of money. The educational interactive exhibits are first rate. Learn how the Federal Reserve maintains the value of money. Spot counterfeit bills. Make your own play money here. A fun and educational experience for the whole family.

Listed on National Register of Historic Buildings

A visit to the lobby alone at this Reserve's location on the corner of E. 6th Street and Superior Avenue is spectacular. Built in 1923 in the Italian Renaissance style, its walls are covered with polished marble from Italy. Look up and the multi-colored vaulted ceiling is hand-painted using gold oils and intricate Florentine designs.

The twelve arched windows have ornate cast-iron grill work to commemorate all twelve Federal Reserve Bank cities. Cleveland's once served a populous making deposits but do not provide teller services today.

Art work consists of two maps depicting the economic life of the States when the building was constructed. However, it's the orange-hued "Steel Production" mural that overpowers the large open hall. It symbolizes the steel industry's importance in Cleveland.

This building is listed on the National Register of Historic Buildings, and rightfully so. It's within walking distance of many downtown hotels, businesses and attractions, which makes a visit easy to plan. It's also on the free Downtown Trolley line.

What is the Federal Reserve?

"The Fed," is synonymous with U.S. currency, especially the raising or lowering of interest rates. The agency and its purpose often complicate the public but without the twelve Federal Reserve depositories located throughout the United States, the handling of money would be chaotic.

Created by President Wilson in 1913, the Federal Reserve System's purpose was to conduct the nation's monetary policy; supervise and regulate banks; maintain the stability of the financial system and provide certain financial services to banks, the government and so forth. Many banks use the Federal Reserve, especially if they have too much cash and need somewhere to store it.

Cleveland's Learning Center and Money Museum

Several Reserves throughout the country have a museum. Cleveland's open, two-level space is decorated in soft shades of green and details the history of money and its role in everyday life. Exhibits are aimed at the fourth- or fifth-grade level but all ages will learn something here.

On the first level, the history of commerce begins on Barter Island and before money was created. Another section highlights a Money Timeline. Examples of artistry used on money, plus the life of a bill is shown. Most bills last about two years before being shredded. A small, sample packet is given as a souvenir. Another highlight is the Money Tree, which is right in the middle of it all.

If You Go

The Federal Reserve Bank of Cleveland - Learning Center and Money Museum is located at 1455 East 6th Street, Cleveland, Ohio 44114. Phone is 216-579-3188. Admission is free. Walk-in visitors are welcome. Groups of 10 or more must make reservations in advance. Hours are Monday-Thursday 10 a.m. to 2:00 p.m. Closed holidays.

For tourist information contact Positively Cleveland or call toll-free 800-321-1004.