Independence was originally settled in 1879 as a tent camp and later renamed when miners discovered riches. At its peak, Independence was a bustling community with over 40 businesses, including a general store, stable, houses, Farwell Stamp Mill, and even a newspaper. However, most residents left for nearby Aspen by 1890 due to the difficult living conditions caused by heavy snowfall and a sharp decline in mineral deposits. The last holdouts were forced to leave when the epic blizzard of 1899 cut off all supply routes to the town.