Chester L. “Chet” Krause, founder of Numismatic News and Krause Publications, died on Saturday from congestive heart failure at the age of 92. A significant force in the world of numismatics who received the American Numismatic Association’s highest honors, he was also a World War II veteran and noted car collector.
Born in Waupaca County, Wisconsin on December 16, 1923, he eventually moved to nearby Iola, where he would pursue his life’s work. He launched Numismatic News in 1952 as a means of communicating with other collectors.
His work and interests are credited with leaving an indelible mark on the community in which he lived, thanks to the success of his business endeavors and his considerable philanthropic efforts. The Iola Car Show and Swap Meet, which he launched 44 years ago, still draws upwards of 120,000 people to the town annually.
Chet Krause was a lifetime member of the American Numismatic Association and went on to serve on its Board of Directors; he was inducted into the ANA’s Hall of Fame in 1990. His company Krause Publications also famously created the international Coin of the Year Awards in 1984.