The goldfields were first called "Black Ridge". The town was named "Forbes" after Sir Francis Forbes. It is possible that the name was a mistake. The name Forbes should have been given to Hill End, New South Wales near Mudgee. Gold was found there at the same time. Gold at Forbes was first found in the area known as Halpin's Flat. The Albion Hotel, once a Cobb and Co. stage coach rest stop, has tunnels underneath it. These were used to take gold and money to and from the banks and stop it from being stolen. Farming became important after the gold mining ended. Forbes became an important stopping place on the main track for moving cattle from Queensland to Victoria.