Chester “Chet” Krause (2019)

Chet Krause was a pioneer in numismatics whose vision transformed the field of world paper money collecting. Best known as the founder of Krause Publications, from the beginning he demonstrated a remarkable understanding of collectors and their needs.

In 1952, working from his bedroom desk in Iola, Wisconsin, he launched *Numismatic News*, creating an effective marketplace through articles, dealer advertisements, and classified ads that connected collectors far beyond their local communities.

That same collector-centered philosophy shaped one of his greatest contributions to the hobby: the publication of the *Standard Catalog of World Paper Money*. In the mid-1970s, after successfully building the *Standard Catalog of World Coins*, Krause partnered with Ernst Battenberg and acquired the rights to publish Albert Pick’s world paper money catalog. Krause Publications then rebuilt the work using its proven editorial, organizational, printing, and distribution methods, making it more usable, affordable, and widely available worldwide.

First issued in 1975, the *Standard Catalog of World Paper Money* was a landmark achievement. It brought unprecedented transparency to world paper money collecting by giving dealers and collectors a reliable basis for attribution and pricing. It also opened the field to thousands of new collectors, transforming what had been a collection of narrow specialties and under-cataloged areas into a more accessible and dynamic international hobby. The catalog grew from one volume into the familiar three-volume standard known today.

Beyond publishing, Chet Krause was an active, friendly, and generous collector who supported scholarship, encouraged the publication of important references, and shared his knowledge freely with people of all backgrounds.