Once a thriving weaving village and fishing port, in 1831 it was reported as having the second-largest fishing fleet in Scotland with a total of 198 boats. Fishing declined during the 19th century, but in the 1860s Buckhaven developed more into a mining town. Although coal waste blackened its beaches and silted up its now non-existent harbour, it later became a Fife coast holiday resort and recreation area for locals. Nowadays, it is classed as one of Fife's 'Regeneration areas' in need of regeneration both socially and economically.