It was always a popular "pub" with the miners in the years from around 1890 to early 1956, when it closed.  Inside, it was a traditional village 'pub' with heavy brass rails around the bar area, which were always highly polished.  It had a vault room, a "quieter" lounge and an upstairs function room.

During the latter part of the 1890s and the first three decades of the 1900s, it was the headquarters of the village Homing Society.  Pigeon keeping and racing was a miners pastime in this village.

Upon closure, it was converted into two private dwellings and the building is still the same today (2004).  Since being so converted, ownership of the two premises has changed hands several times.

Adjoining land that was hitherto Common Land and available for access by villagers has been claimed by one of the properties.

There is evidence from a Conveyance document dated 3 December 1925, that "the fully licensed public house erected thereon, formerly called or known as the Carpenters Arms but then by the sign of The Nags Head and the outbuidings formerly leased by the Chesterfield Brewery Company and then in the occupation of G.W.Smeaton."

This Conveyance document was on the occasion that William Hunt, John Edmund Hunt and George Henry Hunt all farmers, were selling these premises and other property close by to William Stones Ltd. Canon Brewery, Sheffield.

To summarise part of this Conveyance it states:
William Hunt, a farmer of Whaley and John Edmund Hunt, a farmer formerly of Elston, Derbys. and now of Hoveringham, Notts. and George Henry Hunt a farmer of Gateford, Worksop, Notts. (Vendors) and William Stones Ltd. Cannon Brewery, Sheffield.

Each in sums of £1,431.13s. 4d paid by the company to the vendors as to his undevided one third share.

(1) All that piece and parcel of land containing 665 sq. yds. at Palterton together with the fully licensed public house erected thereon formerly called or known by the sign of the Carpenters Arms but then by the sign of "The Nags Head" and the outbuildings formerly leased by the Chesterfield Brewery Company and then in the occupation of G.W.Smeaton.

(2) All that piece and parcel of land containing 1,150 sq. yds at Palterton together with three stone cottages erected thereon and outbuildings, gardens then in the occupation of Messrs. Fawcett, Boden and Kitchener.

(3) All that piece and parcel of land containing 1,815 sq. yds at Palterton and then occupied as a garden with the premises first thrinbre described.

1917.  26 August.  Saturday.  A new lodge of the Derbyshire Miners Association was inaugurated at a meeting of the men of Ramcroft Colliery held in the Nags Head Inn, Palterton.   Mr Frank Hall, Treasurer of the Association was the main speaker.

Names of former Licensees at the Nags Head Inn.
1881.  Robert Cooper.  Kelly's Directory of Derbyshire.
1908.  Alf. Bennett.  Kelly's Directory of Derbyshire.
1912.  Alf. Bennett  Kelly's Directory of Derbyshire.
1916.  Alf. Bennett  Kelly's Directory of Derbyshire.
1928.  Geo. Smeeton  Kelly's Directory of Derbyshire.
1932.  Geo. Smeeton  Kelly's Directory of Derbyshire.
1936.  Geo. Wheatley Smeeton  Kelly's Directory of Derbyshire.
1941.  John William Spafford  Kelly's Directory of Derbyshire.
1956.  John William Spafford  Nags Head Inn closed.