Leadville had a brief gold boom in 1860, and when lead was found with high silver content in 1877, it received its first silver boom. By 1880, it was one of the world's largest silver camps, with a population of over 40,000. In 1882, the Tabor Opera House hosted Oscar Wilde on his lecture tour of the West, one of many celebrities who graced the city. Mayor David H. Dougan invited Wilde to tour the Matchless silver mine and open their new lode: "The Oscar." Wilde later recounted a visit to a local saloon, "where I saw the only rational method of art criticism I have ever come across. Over the piano was printed a notice - 'Please do not shoot the pianist. He is doing his best.'"
The city's fortunes declined with the repeal of the Sherman Silver Purchase Act in 1893, although afterwards there was another small gold boom. Many tales from Leadville found their ways into H.A.W. Tabor's works. It is the highest city in the United States.
During World War II, Leadville was a popular spot for visits by soldiers at nearby Camp Hale, but only after the town acted to curb prostitution; until then, the United States Army declared the town off-limits for its personnel. The war also caused an increase in the mining of molybdenum at the nearby Climax mine. At one point the mine produced 75 percent of the world's molybdenum.
The closing of the mine in the 1980s was a major blow to the town's economy. In addition, the many years of mining left behind substantial contamination of the soil and water, so that the Environmental Protection Agency designated some former mining sites in Leadville as Superfund sites. Despite this handicap, the town has made major efforts to improve its economy by encouraging tourism, emphasizing its history and opportunities for outdoor recreation. The town is the site of the Leadville Trail 100 Mile and other events for runners and mountain bicyclists.
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