For the first few years of its life, the RGS would have fallen under the definition of a "Bonanza Railroad" which meant it was an instant success, quickly generating more than enough money for the investors and covering costs spent to build the railroad, but unfortunately their wealth wouldn't last long due to the Silver Panic of 1893, which would permanently cripple the railroad's finances.
The RGS closed down and was dismantled in 1952–3, but it is well known as one of the most rugged and iconic narrow-gauge mountain railroads in the history of Colorado.
Most of the RGS equipment had been abandoned, sold, or scrapped, and we are fortunate to have the amount remaining today (see remains below). The RGS had many locomotives regardless of whether they were leased or owned, but many were eventually cannibalized for parts that went to similar locomotives of the same class and then scrapped. The RGS was always having financial issues and was usually more than willing to sell worn out or excess locomotives and rolling stock hardware to the scrappers to stay afloat. The D&RGW had to perform similar practices during the great depression, causing many typical classes of RGS and D&RG locomotives to almost go extinct.