Monmouth Troy was built in 1857 by the Coleford, Monmouth, Usk & Pontypool Railway. By 1883, the station served four branch lines, the others being to Ross-on-Wye, Chepstow and Coleford. Other railways were planned, but none of these went beyond initial construction work. The station was on the west bank of the river Wye, with two bridges carrying the Ross and Chepstow lines over the river to the east of the station.
Monmouth Troy was unlucky in never quite making mainline status, a fact that might have meant its survival on a public railway. The Coleford branch closed in 1917 and the Pontypool branch closed in 1957. By 1959, all passenger traffic out of Monmouth Troy was gone and freight traffic was to continue for only another five years.
Ironically, Monmouth Troy station building survives, but not in its original location. It was bought by the Gloucestershire Warwickshire Railway and is now the new Winchcombe station.