Once one of the most prolific silver mines in the United States, the Matchless Mine Historic Site stands as a capsule of history. Located on Fryer Hill—the richest part of the Leadville mining district—the Matchless Mine was purchased by Horace Tabor, Colorado's Lieutenant Governor, on July 17, 1880, for $77,850. In September 1880, rich ore was discovered, yielding silver worth up to $300,000 per ton today.

From 1880 to 1886, Tabor earned about $1.2 million. By 1887, the ore was depleted and profits plunged. Tabor's second wife, Elizabeth "Baby Doe" Tabor, paid off creditors and continued to lease and promote the mine for 28 years.

She lived at the site from 1900 to 1935. Today, the Matchless Mine National Historic Site features the mine's superintendents' cabin, the hoist house, and the Matchless Mine headframe. While it is unsafe to go underground at the mine, there are informational signs and a self-guided tour that give visitors details of the site.