Yes — it is the same mountain. The Baldy Mountain that looms over the old Maxwell Land Grant stories is the very peak that Scouts today know as Mt Baldy, the highest point of Philmont Scout Ranch. At 12,441 feet, Baldy is the tallest summit in the Cimarron Range, rising some 3,640 feet straight out of the Moreno Valley about six miles northeast of Eagle Nest — close enough to Red River that its bare, treeless crown is part of the skyline this whole valley lives under.
Long before it belonged to the Scouts, Baldy belonged to the miners. Copper, gold, and silver were being dug in the Baldy Mining District by 1866, in the first rush that spilled prospectors across the Maxwell Land Grant and gave rise to Elizabethtown, the Moreno Valley's booming first town. The mountain turned out to be honeycombed with ambition: the Mystic Lode copper mine was developed right at the top, and the Aztec, French Henry, Bull-of-the-Woods, Homestake, Black Horse, and Montezuma mines chewed into its flanks. Something like 70 miles of tunnels and workings still thread the mountain. On its eastern side, Baldy Town grew up around the diggings in 1868 and hung on until 1941.
The peak's second life began in 1963, when Norton Clapp bought 10,098 acres around the mountain and donated the land to the Boy Scouts of America. Baldy became the northwestern anchor of Philmont Scout Ranch — and its highest point, the summit every Philmont trekker measures a summer against. Baldy Town's remains were folded into the ranch as a staff camp, so the miners' town and the Scouts' mountain are now literally the same ground.
So when the old-timers in the Maxwell Land Grant stories pointed at Baldy, they were pointing at the same summit that thousands of Scouts climb each summer. The gold is mostly a memory now, but the mountain never changed jobs: it is still the high, bare sentinel standing over the Moreno Valley, watching over Eagle Nest, Elizabethtown's ghost, and — just over the ridge — Red River.
Photo: Baldy Mountain seen from Copper Park camp at Philmont Scout Ranch, by AwBaseball25, via Wikimedia Commons (CC BY 2.5).