By Trey Foerster, Publisher
The village of Iola dedicated the Chester L. Krause Legacy Park on Oct. 13, 2023, honoring a hometown entrepreneur whose publishing empire and philanthropy transformed the community.
On Thursday, June 11, 2026, the final phase of the project came to fruition with the installation of three monuments listing the names of 1,799 Krause Publications employees and a fourth monument recognizing donors and contributors to the project. A small assembly of around 20 former employees and other local citizens gathered to witness the installation.
Chester “Chet” Krause, who died in 2016 at age 92, founded Numismatic News on Oct. 13, 1952, which grew into Krause Publications. The company published dozens of periodicals and books, employing hundreds in Iola at its peak. He also co-founded the Iola Old Car Show, now a major annual event.
The park, at the corner of Chet Krause Drive and Water Street across from the original Krause Publications building, features a large mural by artist Jordyn Brennan depicting Krause, vintage cars, and Iola history, along with other tributes.
Project background
Clifford Mishler, longtime Krause associate, former president of Krause Publications, and current Iola Historical Society president, served as fundraising chairman for the project. In an August 2022 letter seeking donations, Mishler highlighted Krause’s impact.
The idea for the park emerged after Krause’s death as a way to memorialize his contributions. Plans for the park on a downtown open lot were underway by 2022, with an initial budget estimate around $230,000 covering a bronze statue, mural, and other features.
Construction progressed in 2023. The dedication occurred on the 71st anniversary of the first Numismatic News issue, though rain forced the ceremony indoors at the Iola Historical Society’s machine shed. More than 200 people attended, including coin hobbyists, car enthusiasts, former employees, and community leaders.
Mishler welcomed attendees: “I want to welcome you all here today. I’m very pleased with the turnout on a rather miserable day. … Given today’s weather conditions, you are probably wondering why in the world we would have picked the date Friday the 13th to have this event. … That was the date that was printed below the flag on the first issue of Numismatic News, October 13th, 1952.”
He added, referencing Krause’s publishing deadlines: “Chet provided me some guidelines early in my career at Krause Publications, one of them was that when you are in the publishing business, when the deadline arrives, you go to press with whatever you have, and that is exactly what we have done as far as the development of the Krause Legacy Park. It isn’t where the committee or I would have liked to have seen it at this particular stage of the game, but we are getting there.”
Village President Jennifer Schustek noted Krause’s broader influence: “With the creation of Numismatic News, this idea grew from a hobby, to a monthly periodical, to Krause Publications, a business that published 50 periodicals and hundreds of book titles. … The growth of this business also brought extensive growth to Iola. … You really can’t travel anywhere through the village of Iola without passing something that Chet has made possible. Everybody loved Chet.”
A bronze statue of Krause by sculptor Eugene Daub, showing him examining a coin, was unveiled at the ceremony and later installed in the park on May 11, 2024.
Subsequent improvements included concrete sidewalks, curbs, a lighted American flag donated by the local American Legion post (raised in February 2024), and a two-unit restroom facility. Lawn seeding, landscaping, and other work continued into 2024.
On Oct. 13, 2024, Mishler and Krause’s niece, Patricia (Krause) Dickhut, unveiled a historical marker at the park detailing his life, military service, business achievements, and philanthropy supporting Rawhide Youth Services, Marshfield Clinic, and local projects.
The marker text concludes with Krause’s humble persona: “… but most importantly, he was just plain … I’m Chet!”
Krause’s legacy extends beyond the park. The Iola Car Show, which he helped launch in 1972, draws tens of thousands annually and has raised millions for local causes. His philanthropy improved village infrastructure, housing, and amenities.
The park serves as a lasting tribute, educating future generations about the man often called Iola’s best-known citizen. As family member Patti Dickhut said at the dedication: “Without this community, Iola, behind him, it wouldn’t have happened. So thank you, Iola.”
Photolog of Event
