Although long extinct, Capulin Volcano remains a dramatic destination! At this small national monument in northeastern New Mexico, you can explore a near-perfectly shaped cinder cone volcano, take in expansive views, and enjoy six miles of hiking trails. Capulin Volcano National Monument is open for day-use only and there is an entry fee. No camping is allowed. It is located between Clayton and Raton off U.S. Highway 64. From the village of Capulin, head north on Hwy 325 for three miles.