Edinburgh

Library of Mistakes

A free library of financial history in the New Town, with balconies of books round a reading room, where readers study the market's mistakes.

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Welcome

A white gable wall in the West End gives the game away: in tall black letters it reads Library of Mistakes, beside a line attributed to Albert Einstein about only needing to know where the library is.

Visited and photographed by Simon Hird

Inside is one of the most unexpected rooms in the city. Long trestle tables and benches fill a reading room lit from skylights, and all around it dark timber shelves rise to a gallery reached by a wrought-iron spiral staircase. The walls are hung with framed share certificates, old newspaper headlines and wartime savings posters, a painting of a crowded trading floor hangs above one alcove, and rows of leather-bound volumes line the shelves beside a partners' desk topped in red leather. Every book here is about money going right and, more often, going wrong. Come to one of its evening talks for the easiest way in.

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Before you go

The library is free, but it is a reference library for registered readers, not a place to drop into.

Talks and events are held in the reading room through the year.

Readers
Registration is open to anyone over 18; under-18s come with a registered adult.
The books
Reference only: nothing leaves the library.

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Did you know

A white gable wall is lettered 'LIBRARY OF MISTAKES' beside a quote attributed to Albert Einstein about libraries.
Did you know

Open since 2014.

The library has been open to readers in Edinburgh since 2014, in a city whose study of money goes back to Adam Smith.

A framed painting of a stock exchange trading floor hangs above bookshelves in a dark-panelled alcove at the Library of Mistakes.
Did you know

Why mistakes.

The point of it all is to help professionals and ordinary investors alike avoid the mistakes of the past, by reading the history of markets.

A mezzanine gallery of bookshelves overlooks reading tables and benches in a wood-panelled library.
Did you know

Sister rooms abroad.

The Edinburgh library is the original. Reading rooms licensed from it have opened in Switzerland and India.

An ornate wrought-iron spiral staircase winds up beside floor-to-ceiling bookshelves in a library.
Did you know

Last one out.

It is a free reference library of financial history in the New Town, for registered readers over 18, with balconies of books round a reading room.

Framed vintage financial posters and share certificates, including a 'War Loan' advert, hang on a wall at the Library of Mistakes.
Did you know

Errorists.

Fans of the library are called errorists, and can buy its mugs, postcards and pencils in person at the library.

Ben Lerwill

From our guide to Edinburgh

Recent British history suggests that this West End business and finance library is aptly named. It’s a charitable venture and aims to promote the study of financial history – as well as the ability to learn lessons from past errors.

Read more
Long tables and benches sit before dark timber bookshelves and a wrought-iron spiral staircase at the Library of Mistakes.
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Stay nearby

Places to stay near the library, and when each is next free.

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