Hargraves is the man that started the gold rush in NSW by finding gold near Bathurst. I assume this town is named after him, though while it is in the general vicinity it is not where the rush began. There was however gold found in the area a little later and a couple of thousand miners soon followed.
The village has never been large with 60-70 houses in the 1850s and is still a bit off the beaten track. This may change now there is sealed road all the way through to Hill End making for a very interesting drive from the tourist town of Mudgee through to the old gold towns of Hargraves, Hill End and Sofala. Today there are still quite a few houses and a general store.