Bonanza

Bonanza is a small mountain town in Saguache County, Colorado, sitting at about 9,500 feet (2,900 meters) elevation and surrounded by low hills. The settlement consists of a few weathered buildings and homes spread along the main road, with simple structures dating back to the silver mining era.

The discovery of ore deposits by Tom Cooke from Salida in 1880 attracted miners, and a busy mining town soon developed in the high country. Decline set in as ore quality proved low-grade, a fire in 1937 destroyed the business area, and when the post office closed in 1938, most residents left the town.

Bonanza's name comes from Spanish and means prosperity, reflecting the hopes that drew miners to this mountain valley. Today you can see how community life was organized through the simple layout of buildings and the way locals still know each other in this small place.

From Poncha Springs, head south on US 285 and turn onto County Road 47YY, a route of about 22 miles (35 kilometers) through mountain terrain. There are no shops or hotels in Bonanza itself, so bring supplies or arrange to stay in nearby Saguache, which handles most visitor needs.

The place once had 36 saloons and seven dance halls, reflecting the lively mining community that thrived here. About a mile away stands the last remaining cabin from Exchequer, a silver mining town from the 1860s, giving visitors a glimpse into early extraction life.

Location: Saguache County

Elevation above the sea: 2,889 m

Address: Bonanza, CO 81155, USA

GPS coordinates: 38.29500,-106.14000

Latest update: December 18, 2025 19:00