The museum is located in the building of the former Minorite monastery. There are exhibitions on the history of the town, archaeology, local history and ethnography, including minerals of the Silver ore veins. On the ground floor there is a small exposition on the history of motocross in Silverberg.

The museum was established in October 2018 in the historic Waterworks "Black" Tower building. It is primarily dedicated to Josef Tomáš Škoda, M.D., an eminent physician who was born in the Water Tower and whose birth room houses an exhibit dedicated to him.