Belmont was established following a silver found in 1865. Other minerals, such as copper lead and antimony, were also mined in addition to the silver.
The silver boom brought many settlers in and the town of Belmont. In 1867.

Belmont became the county seat of Nye County. The town prided itself of four stores, two saloons, five restaurants, post office, assay office, bank, school, telegraph office, two newspapers, and a blacksmith.
As the price of metals fluctuated, so did the boom of the town. In1887, several of the mines closed. In 1905, the county seat of Nye County was relocated from Belmont to Tonopah.

Like many towns which are now ghost towns, this one lasted for only a short time.
Today Belmont can be visited as an open-air museum.