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Troy was established in central Nevada in 1867 as a silver mining town. The first ore in the area was discovered by Alexander Beaty, who sold his claim to the Old English Gold Corporation. They in turn built a 20-stamp mill in 1870 and commenced mining operations. By 1871 Troy had two general stores, boarding house, blacksmith shops, school, post office, saloons, and a population of around a 100.

The Troy mine was more than 1000 feet above the camp but still suffered from water seepage problems that eventually led to its abandonment in 1913. By 1915 the town belonged to the ghosts. There was some activity prior to World War II to help boost prewar production and than post World War II until 1949 when it shut down.

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