Silverton was established when Thomas J. Braidfoot and associates formed a townsite company, with the name reportedly derived from the silvery reflections of nearby lakes.

The town quickly developed with a post office, stores, a blacksmith shop, and a school by the fall of 1891.

In 1892, Silverton won a special election, becoming the county seat over two rival townsites.

[4] Silverton became the northern terminus of the Fort Worth and Denver South Plains Railway in 1928, leading to its incorporation.

According to the United States Census Bureau, Silverton has a total area of 1.0 square mile (2.6 km2), all land.

[9] As of the 2020 United States census, there were 629 people, 277 households, and 165 families residing in the city.