Birthplace of Numismatic News
Side A
The first issue of “Numismatic News” was born here Oct. 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 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
Side B
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 “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 of 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 a year in 1959 and then to 26 in 1963. It became a weekly in 1969.
Marker is at the intersection of East Iola St. and South Jackson St.,, on the right when traveling east on East Iola St..
Courtesy hmdb.org
