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Tybo was established in the 1870s as a silver mining town. Its name came from the Shoshone word tybbabo or tai-vu, meaning "white man's district". The first major ore discovery in Tybo was made in 1870. It was not until 1874 that a small camp began to form in Tybo. The Tybo Consolidated Mining Company was formed in 1875 and controlled three major mines near the camp. A Wells Fargo office was opened along with a merchandise store and a bank.

By 1876, the town’s population had grown to around a 1,000. The town was a blend of mainly three cultures, which clashed frequently. The town had been divided into three separate sections: an Irish section, a Central European section, and a Cornish section. Buildings in the town had grown to include five stores, a number of saloons, two blacksmith shops, a post office, a newspaper, a schoolhouse, a jail, an International Order of Odd Fellows chapter, and various other establishments.

In early 1881 when the quality of the ore dropped drastically and it was forced to close down in November, 1881. By the end of the year, only 100 people were left in Tybo. For the next twenty-five years, Tybo barely managed to cling to life. A major fire in 1884 destroyed thirty-two buildings. There were many revival attempts during the intervening years, some more successful than others. From 1942 to 1945 eighteen men worked hauling old tailings to Tonopah for treatment. That was the last production to come from Tybo. Tybo’s total production value stands at around $9.8 million.

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