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Cotopaxi originally was a mining and ranching community in the 1870's. Named by Henry Thomas, a miner who had traveled to South America, after the highest active volcano in the world in Ecuador. "Gold Tom" thought a peak just south of Cotopaxi looked like the volcano he visited. In 1882, wealthy businessman Emmanuel Saltiel tried to entice Russian settlers to scratch out an agricultural community. The local topography was not conducive to farming and the settlers endured extreme hardships and eventually chose other work or migrated to other Colorado towns. Cotopaxi is the finish line for the famous Fibark boat races starting 23 miles upstream in Salida. Cotopaxi was a railroad stop for travelers through Bighorn Sheep Canyon between Canon City and Salida. Whitewater rafting and fly fishing are popular local activities in Cotopaxi.

Driving mileage from:
Salida - 23 miles
Canon City - 33 miles
Colorado Springs - 78 miles