This is the site of the original Tiffany's store, first constructed in 1869 as the Gilded Age began. Tiffany's offered beautifully crafted silver and diamond jewelry to New York's elite. The names most associated with Gilded Age New York, the Vanderbilts, Astors, and Roosevelts, all frequented Tiffany's in search of jewels to wear.

While department stores today may be a dying breed, bested by online shopping, they were new and exciting places during the Gilded Age. Siegel-Cooper was the premier department store in the city. Encompassing an entire city block on Sixth Avenue, this store exhibited the opulence, or extravagance, of Gilded Age New York. The beautifully constructed building housed businesses ranging from clothing stores to bicycle shops and even a dentist's office! In the center of the building was a large fountain that became a meeting point for Gilded Age New Yorkers. It represented well the consumerist and materialist mentality of the era.

An important aspect of Gilded Age life for the wealthy was exclusivity and culture. Opera was seen as an upper-class art. The newly wealthy in New York built the original Metropolitan Opera House on Broadway and 39th St. when the "old money" families of New York refused to give them seats at the Academy of Music. This feud between "old" and "new" money dominated the Gilded Age. Newcomers to the elite social scene like the Vanderbilts, were viewed as crass. They did not gain their wealth through landownership and inherited family wealth. Instead these new families built empires on industry and economic speculation. Many members of the older establishment viewed these newcomers with suspicion. So what did they do when denied access to elite institutions? These families built their own institutions and came to dominate New York's social scene.

Perhaps the leading family of Gilded Age high society was the Astors. This family best represents New York's "old money." The Astors gained their wealth through a monopoly on the fur trade, dating from the first half of the 19th Century. Over time, the Astors bought up a lot of real estate in Manhattan. As the island's population increased, they sold their property for immense profits. J.J. Astor constructed a mansion along Fifth Avenue, that now overlooks Central Park. He was also responsible for constructing several famous hotels, including the Waldorf-Astoria. The wife of J.J. Astor's grandson, Caroline Schermerhorn Astor, developed the "List of 400," that documented the top members of New York society and represents the exclusivity of the Gilded Age.

The Vanderbilts were among the newly rich families to enter New York's social scene during the Gilded Age. They gained their money through investments in railroads and steamship lines. In an era before flight and the automobile, and a national network of roads, steamships and railroads were the most efficient method of transportation. When railroad technology developed in the middle of the 19th Century, those individuals who got in on the ground level could profit immensely. This was the case of the Vanderbilt clan. The Vanderbilts constructed beautiful mansions in New York and in Newport, Rhode Island, helping to cement their position in New York's high society.

The Morgan Library & Museum was funded and constructed by J.P. Morgan, one of the Gilded Age's premier financiers. Coming from wealth himself, Morgan became even wealthier through his work securing capital for developing industries. He is responsible for the formation of important corporations like US Steel and General Electric. He did a lot of work with the railroad industry as well, helping to unify it. By the end of his career, he controlled around 5,000 miles of railroads. At the time, railroads were the primary method of transportation of goods and people in the country. Over time, he came to control large sections of the banking industry as well. Today the name J.P. Morgan is still associated with banking. Morgan represents an important divide in the Gilded Age. Many viewed Morgan and other wealthy men as "Robber Barons." These were individuals who were accused of engaging in unethical and anti-competitive measures in order to get rich and control a specific industry. However many individuals with this negative title were also great philanthropists. They donated to worthy causes and contributed immensely to the arts. Morgan helped to fund a Library and Museum that still exists and serves the public today. Like all people, the rich of the Gilded Age were complicated and imperfect figures.

Andrew Carnegie represents a typical "Captain of Industry" during the Gilded Age. He rose from poverty as a Scottish immigrant to controlling a monopoly over the Steel Industry in the United States. A monopoly is when one company completely controls an industry or sector of the economy. There are two main types of monopolies: vertical and horizontal. Carnegie's Steel Company is an example of a vertical monopoly. He came to control all aspects of steel production from the iron mines, to the railroads which transported his material, to the factories where the steel was produced. This allowed him to reduce costs and beat out his competition. Other Captains of Industry, like John Rockefeller, who controlled the Standard Oil Company, formed horizontal monopolies. In this form, a company bought out all competition in an industry. Overtime, Rockefeller's oil company was the only oil producer in the country. Many people oppose monopolies because they reduce competition and can allow the companies to take advantage of the consumer. Because of the companies formed by men like Carnegie and Rockefeller, Congress ultimately passed the Sherman Anti-Trust Act in 1890, outlawing monopolies. Carnegie is another example of the complicated Gilded Age "Robber Baron." While ruthless in business, he donated large sums of money to fund various charities and public works projects like the New York Public Library (NYPL). Carnegie's astronomical donation of over 5 million dollars, at the time, helped to get the NYPL off the ground and provide free library access to all residents of the city.

The wealthy and elite of New York believed their city deserved a premier art museum to compete with other world class cities. The Gilded Age witnessed the rise of many museums and cultural institutions. Wealthy philanthropists spent millions on their construction and upkeep in order to give back to society and to show off their money. Created in 1870, the Metropolitan Museum of Art (The MET) has been in its current location, alongside Central Park, since 1880 preserving art and culture in New York. Even today the MET exudes an elite vibe through annual events like the MET Gala, which draws the nation's most elite socialites, celebrities and dignitaries. A little bit of the Gilded Age lives on in New York!