[4] Founded in Oklahoma Territory before statehood, Coyle initially prospered as an agricultural town and because of the arrival of the railroad.

However, the demand for the area's principal crop, cotton, declined sharply after World War I.

By 2000, it was estimated that 95 percent of the employed residents commuted to work in larger towns nearby.

William H. Coyle, a Guthrie entrepreneur, and U. C. Guss were employed as purchasing agents by the railroad company to acquire right of way, and were awarded an opportunity to select a townsite as a bonus for their successful work.

They chose a location 2 miles (3.2 km) south of Iowa City, a community previously established on the Cimarron River.

[4] After WWI, the demand for cotton declined sharply, causing many local farms to become unprofitable.

Since then, about 95 percent of the employed residents of Coyle have commuted to work in larger towns nearby, such as Stillwater, Guthrie, and Oklahoma City.

[4] According to the United States Census Bureau, the town has a total area of 0.6 square miles (1.6 km2), all land.