The Pikes Peak Gold Rush began in 1858 when gold was discovered near Pikes Peak in Colorado. This event attracted thousands of prospectors and settlers hoping to strike it rich. The rush led to the establishment of several towns, including Colorado City and Denver, as people flocked to the area in search of fortune. Despite the initial excitement, the gold found was often difficult to extract, and many prospectors faced hardships. By the early 1860s, the rush began to decline, but it played a significant role in the development of Colorado and contributed to the westward expansion of the United States.