At the age of five, following the death of his mother, Cole was brought to Chicago. In 1868 he began a two-year apprenticeship as an engraver at the firm of Bond & Chandler. With prospect for launching a career, as well as all his possessions destroyed by the great Chicago fire of 1871, Cole moved to New York where he could get freelance engraving work.
In spring 1875, he met Alexander W. Drake, the art superintendent for Scribner's. Drake liked Cole's work, and the artist began to engrave for the publishing company. Over the next several years, Cole did engravings after works by such artists as Winslow Homer, Robert Blum, Abbott Thayer, Elihu Vedder, George Inness, John La Farge, and James A. McN. Whistler. The turning point in his career came in 1883 when he was asked to travel to Europe to execute a series of engravings after the old masters for Century magazine. Cole stayed abroad for almost twenty-eight years in order to complete the project, spending approximately ten years in Italy, four in Holland, four in England, six in Spain, and four in France.
In 1910, he returned to the United States for the first time since his 1883 departure. As he grew older, this most celebrated American wood-engraver became known as the last master of a dying art form. His "revolution" in wood engraving had been the move toward a truer, more exact reproduction, but the development of illustration by photographic reproduction made even his painstaking efforts obsolete.
Walter Cole's portrait of his father was painted during the month of January 1907, while the family was in France. He shows his father at work, with the beginnings of a beard he was growing at the time (Cole, 136).