The village of Buckeye was surveyed and platted at this site in 1924. The land was part of the Buckeye Ranch. Only a country store built in 1924, a barn, and several outbuildings made up the "village." Charles and Edith Thompson ran the store until 1927, followed by John and Marie Nelson until the store closed in 1945. The building was demolished in 1981.
As in other rural locales, the Buckeye Store became the hub of the community, especially during the 1930s Depression when few could afford the seventeen‐mile trip to Broken Bow for supplies. It was a source for news, groceries, and household goods and also provided a meeting place. The Round Hill School was nearby.
Residents of the Buckeye community have included James "Jim" Jones, Nebraska state senator from 1993 to 2005 and Robert E. Smith, Nebraska State Grange president from 1980 to 1988. Mervin R. Eighmy (1909-2000), a specialist in developing high-performance livestock feeds, was elected president of the Gooch Feed Mill Corporation in 1971, owned ranch land in the area, and lived at Buckeye in retirement.