How to Stay in the Black during Black Friday and Holiday Shopping

ST. LOUIS – To kick off the holiday shopping season, the St. Louis Fed’s Economy Museum is offering tips on how to avoid overspending as well as inviting visitors to view a special one-day-only display of rare currency on Black Friday.

On Nov. 28, the museum will display three gold and three silver certificate banknotes in multiple denominations ranging from $1 to $50. The certificates, which were backed by the nation’s gold and silver reserves and date to between 1880 to 1928, will be on display for one hour at 10 a.m. and again for an hour at 1 p.m.

“We’re excited to bring these colorful banknotes out of our vault for everyone to see. It’s also a great opportunity to learn a little of the history of how U.S. currency was exchanged before the nation had a central bank,” said Liz Senzee, museum specialist at the Federal Reserve Bank of St. Louis.

In addition to the certificate display, the museum will have arts, crafts and story time for children throughout the day.

“We hope families will take a break from shopping and visit us,” Senzee said. “The museum is a great place to bring family and friends visiting from out of town.”

As part of its educational mission, the museum is also offering tips to help shoppers avoid overspending on holiday gifts and entertaining, Senzee said. Her recommendations include:

• Set a budget for gift-giving and stick to it.
• Check prices well before black Friday to gauge if sales really are a good deal or not.
• Bring a gift list to the stores and don’t make impulse buys.
• When you shop online, use apps or browser extensions that automatically find discounts or cash back offers for items you buy.
• Shop with a friend who will hold you accountable to your budget and spending limits.
• For holiday parties, sketch out your décor and food needs in advance and purchase only those items and in the amounts you need.

The Economy Museum is open Monday through Friday from 9 a.m. to 3 p.m. at One Federal Reserve Plaza. The museum will close at noon on Nov. 26 and is closed on Thanksgiving Day.