Though numerous mines were operating in the area, including the Critic, Fraction, Navajo, Good Enough, Park, Red Sky, Hamburg, Washington, Guy, Last Chance, Cleopatra, Mascot, and Cleveland, it would still be decades, before the town of Coolidge got its start. In 1893, when silver prices crashed, all of the area mines were closed for the next ten years. Only small prospectors working their claims remained.

However, by 1903, silver prices had recovered enough to restart some of the Elkhorn operations and new finds stimulated interested in reopening the Elkhorn Mine. But, for several years, financing was an issue and the mine continued to sit silent. In 1906, a man named Frank Felt began to buy up a number of claims in the district and he, along with M. L. McDonald and Donald B. Gillies, started a tunnel on the Idanha vein which eventually would become the major producing mine in the Elkhorn District.

In 1911, a Montana politician named William R. Allen also began buying claims and in 1913 formed the Boston Montana Mining Company. After investigating the claims, the company began efforts to reopen the Elkhorn Mine and the following year the town of Coolidge was born, named after William Allen’s friend, Calvin Coolidge. With numerous miners and their families in the area, the settlement quickly thrived with modern amenities, including telephone services and electricity. In 1917, construction began on the last narrow gauge railroad in the U.S., from the Elkhorn Mine to Divide, Montana at a cost of about $1.5 million. A school district was organized in October, 1918 and the following year, the Montana Southern railway was completed.

A number of men and their families moved into Coolidge when worked started on a new mill in 1919. Initially, many of them lived in tents, which were later replaced by more substantial log buildings. The town also boasted a boarding house and restaurant, as well as a company store that provided all manner of food and supplies to the town’s residents. Amazingly, the mining camp never held a saloon, but alcohol was said to have been available from a local still outside of the camp. It also never built a church.

A post office established in Coolidge in January, 1922 and that same year, the new mill, covering nearly two acres, was completed at a cost of about $900,000. A 65,000-volt power line was run to the mill at an additional cost of $150,000.