For many years, at an elevation of 9,494 feet, near the timberline, the area was considered no more than cattle pasture. It was near the site of the Mount Pisgah hoax, a mini gold rush caused by "salting" (putting a bit of rich ore in a worthless site).^[1] In 1891, however, rich ore was found and the last great Colorado gold rush was on.

Thousands of prospectors flocked to the mountains, including W. S. Stratton, who located the famous Independence lode, one of the largest gold strikes in history. The gold-bearing area was the core of an ancient volcano of six square miles. Cripple Creek is in the Thirtynine Mile volcanic field. Free gold was found near the surface but at depth unoxidized tellurides and sulfides were found.

There were serious labor problems, perhaps the worst in Colorado history. To keep the ore flowing, Governor James Peabody sent the state militia into Cripple Creek on November 23, 1903, to break up a miners' strike.

By 1935 half a billion dollars in gold, most figured at the price of $20 an ounce, had been extracted. At the turn of the century Cripple Creek and its sister city, Victor, were substantial towns.

Eventually the mines played out and the population dropped to a few hundred. With many empty storefronts and picturesque homes, Cripple Creek was a tourist attractions as a ghost town, although it was never entirely deserted. In the 1970s and 1980s travelers on photo safari would drive into town to find themselves in a beautiful decaying historic town. Trailers and mobile homes dotted the outlying residential hills. The layout of the historic town from 100 years prior stood untouched. A few stray restaurants and bars provided for the tourists who would drive by weathered empty homes with lace curtins still hanging in broken windows. Visitors had an excellent opportunity to actually experience the town that produced more wealth than any other on the face of the earth up to the year 1930-over $400 million in gold. Many buildings, mines and other sights suggestive of the town's history stood for the visitor to enjoy in decay.

Colorado allowed Cripple Creek to establish legalized gambling in the early 1990s. Cripple Creek has a population of around 1500 residents and is currently more of a gambling and tourist town than a ghost town. Of interest to people interested in ghost towns would be the narrow gauge train ride from Cripple Creek past several small ghost towns, and goldmines and glory holes. Also of interest would be the Molly Kathleen Gold Mine tours into a real gold mine led by a real gold miner. Both the goldmine tour and the train ride have very knowledgeable guides with many interesting stories.

Like many other mining towns of the Old West, Cripple Creek is said to be extremely haunted. Given its rich history, complete with mining accidents, floods, fires, lawlessness, and bloody battles between mine owners and labor unions, it comes as no surprise to learn that many ghost stories continue to linger. In fact, there are so many tales of spirits wandering this historic town, that at one time boasted one homicide per day, believers say it is one of the most haunted cities in the United States. Casinos now occupy many historic buildings that once entertained as a ghost town.

Casino gambling was successful in bringing revenue and vitality back into the area. Almost all the gold claims have been consolidated and open pit mining has been under way since 1994.