Montezuma is a town located at an elevation of 10,200 ft that was founded in the early 1860s by prospector John Coley who crossed the Loveland Pass and discovered rich silver deposits. It grew rapidly and became the largest town in the region, with around 1,000 residents at its peak. However, when silver prices collapsed in 1893, the population declined. Today, Montezuma is a semi-ghost town with a few year-round residents and vacation homes. Unfortunately, several fires over the years have destroyed many of the historic buildings in the town.