Chester L. Krause has resigned from the American Numismatic Association Board of Governors, and will be replaced by former Governor Alan Herbert.

In a July 7 letter to President Clifford Mishler, Krause explained that health reasons precluded his attendance at the Board of Governors meetings in Florida in January and in March in Fort Worth during the ANA National Money Show.

“Although I feel in generally good health, it has become increasingly difficult for me to travel,” Krause said to President Mishler. “Consequently, I don’t feel I can serve the Board or the ANA membership to the fullest extent. I think it is proper for me to step aside sooner than later. It has been my pleasure to serve with you and all the Board members during the last three years.”

Krause was elected to the Board in 2007 and reelected in 2009. To most, he is “just plain Chet.” He is a member of the ANA Hall-of-Fame who has been recognized with virtually every honor the Association can bestow, including the Medal of Merit, Glenn Smedley Memorial Award, Exemplary Service Award, Numismatist of the Year, Lifetime Achievement Award and the ANA’s highest honor, the Farran Zerbe Memorial Award for Distinguished Service.

During Krause’s tenure on the Board of Directors, the ANA has hired a new executive director, Larry Shepherd, stabilized its finances, increased donations, expanded educational programs and approved a third annual show, the Fall National Money Show, which debuts in Pittsburgh in 2011.

“I am sure everyone shares my sadness at losing Chet’s wisdom and sage advice,” said Shepherd. “I will miss Chet’s guidance and opinions, which I value and respect greatly. I thank Chet for his love of the ANA and his devotion to the hobby. There are very few people in the history of the ANA who have done as much for this organization – or the hobby – as Chet.”

Mishler echoed Shepherd’s sentiments. “We have greatly valued Chet’s contributions to the Board and will miss his wise and experienced counsel. At the same time, we welcome Alan back to the Board and are pleased that Chet’s seat on the Board is being placed in such capable hands. (more…)

Stack’s Philadelphia Americana Sale was held last week in conjunction with the Whitman Coin and Collectibles Expo and was a resounding success. The auction realized nearly $9 million and set a new record for the most expensive silver U.S. medal ever sold at auction at a whopping $345,000! This sale featured not only the familiar U.S. coin and paper money issues, but also showcased landmark collections of medals, tokens, and other numismatic interests.

Part One of the Americana Sale featured American Paper Currency and was led off by the Chester L. Krause Collection of Wisconsin Obsolete Banknotes. Nearly 350 lots of Chet’s were offered and were extremely well-received. Highlights included a Oneida Bank Proof Sheet, a gorgeous color sheet that brought $23,000, and a fantastic Farmers Bank at Hudson color proof sheet that realized $17,250, more than doubling the pre-auction estimate. An excessively rare Waupun Bank “Santa Claus” Proof was also a significant highlight and sold for $16,100.

The second half of Part One was comprised of Canadian paper money, U.S. large and small size currency, fractional currency and fractional currency shields, Colonial and Continental currency, and a few pieces of Tromp l’Oeil numismatic artwork. Large size currency boasted an outstanding Gem 1896 $5 Educational note graded Superb Gem Uncirculated-67 PPQ (PCGS) that brought $23,000. National Bank Notes featured a prized D. O. Mills & Company, Sacramento, California 1872 $5 in Very Fine condition that fetched $43,125. There were three trompe l’oeil paintings offered in the Americana sale, the most notable of which was the 1949 “We’re All Gold Bugs” by Otis Kaye that sold for $43,125.

Following the numismatic art was a large section of Colonial and Continental Currency, which included a fabulous run of 1709 Colony of New York notes. First up was a rare May 31 Ten Shillings graded New-62 (PCGS) that garnered $13,225. Next was the amazing strip of three May 31 notes from the Ford-Boyd collection that went for $34,500, followed by an extremely rare November 1 Twenty Five Shillings in Extremely Fine-40 (PCGS) that sold for $12,650. Capping off this impressive run was the incredibly rare uncut pair of 25 Shillings-50 Shillings that sold for a respectable $27,600.
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