N.O.W. was established in 1960 by a small group of Wisconsin collectors including facilitator Chet Krause. Their objective was simple; to encourage and promote interest in numismatics, to cultivate friendly relations between Wisconsin collectors and local coin clubs, and to educate and assist new hobbyists.

It was decided to formally organize N.O.W. that summer at an open house in Iola at the offices of Krause Publications. On July 8th, 1960 a large crowd attended, nominations of officers were set forth and elections were made. By day’s end, N.O.W. had been formally established and the membership roll had reached nearly 100. As Chet put it, “From that day on, collectors of the state had one more element of common ground to talk about, for the idea of a state organization had come to reality.”