BIRTHPLACE OF NUMISMATIC NEWS - Iola, WI USA - Signs of History on Waymarking.com

The sign reads:

"BIRTHPLACE OF NUMISMATIC NEWS

The first issue of “Numismatic News” was born here October 13, 1952. From this start over the next 50 years grew Krause Publications, a business that published 50 periodicals and hundreds of book titles. The idea for the paper was Chester L. Krause’s, who lived in this house with his parents. He was a professional carpenter by day and a coin collector at night. Because it was difficult for coin collectors to interact outside the main urban areas, Chet felt they needed a means of communication.

To fill that need “Numismatic News” was created as a monthly news trader paper. It sold for $2 a year. Collectors could run classified ads and buy and sell with each other by mail. In early 1954 after incurring a cumulative loss of about $1,342, the paper began to generate a profit. Work that had been done here on the dining room table was moved into rented office space downtown.

By 1957, Chet had to choose between his profession and publishing the “Numismatic News”. He chose the paper. He built a modern building to house it at the corner of Washington and Water Streets. He built his last house in 1958.

While always containing tidbits on information, “Numismatic News” took on a full-fledged newspaper approach in 1959. Tom Fruit was hired as the first professional editor. The number of pages grew steadily and the frequency was increased to 24 times in 1959 and then 26 in 1963. It became a weakly in 1969."


About Krause Publications

Krause Publications, based in Iola, Wis., is the world’s largest publisher of leisure-time periodicals and books on collectibles, sewing and quilting, hunting, and fishing. Chet Krause, a long-time collector of coins, published the first issue of Numismatic News on Oct. 13, 1952, with nearly 1,000 readers. Today, Krause Publications, owned by F+W Media, offers over 40 periodicals, 10 hobby shows, 750 reference and how-to books, and web properties. F+W Media, an ABRY Partners, LLC company, also operates book clubs, conferences, trade shows, interactive media and education programs.

Group that erected the marker: The Iola Historical Society URL of a web site with more information about the history mentioned on the sign: [Web Link] Address of where the marker is located. Approximate if necessary: 264 E. Iola Street Iola, WI USA 54945

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