As the name of the city suggests, silver was once dug here; the city flourished and grew. However, when a much larger silver deposit was discovered in nearby Broken Hill, Silverton's decline began. Of the previous 3,000 inhabitants, only 300 were left in 1901. More and more people moved from Silverton to Broken Hill. Today the population of Silverton is officially 50 people (as of 2016), but Silverton has retained its official city status. By and large, Silverton now consists of two galleries and a pub, the Silverton Hotel.
Silverton is located in the Unincorporated Far West , the sparsely populated region in northwest New South Wales that does not have its own local government .