The aim of this study was to assess the historical trends of metal concentrations in coastal sediments in the vicinity of an inactive mining area, find background values and contamination levels of metals around the Karaburun peninsula, and then search for other sources of mercury in marine sediment cores using multivariate statistical analysis and report the potential ecological risks from that metal contamination. Surface sediment samples were taken from seven stations. Water depths were less than 20 m (coastal area) at stations KB07 and KB08. The depths at stations KB01, KB02, and KB03 were between 20 and 40 m, and stations KB05 and KB06 were more than 40 m (open area). In surface sediments at depths between 20 and 40 m, Mo, Cu, Pb, Zn, Ni, Co, Fe, Cd, Ti, Zr, Sn, As, Y, and Hg levels revealed higher contamination factors (C) compared to those of the coastal and open areas. Also, sediment samples were taken for historical records at stations KB01 and KB02 for 2012. Metal concentrations of Cu, Zn, Ni, Co, As, Sb, Cr, Ba, Ti, Al, and Hg in the sediment core samples were significantly higher during the Holocene (~5700 BC to 2000 B.C.) and Medieval Warm periods (~1000 A.D. to 1400 A.D.) and tended to decrease towards the Little Ice Age (2200 B.C. to the birth of Jesus Christ). Background concentration of Hg in sediment was found as 1.67 μg/g around the Karaburun peninsula. Average EF values higher than 20 were identified for As, Hg, Sb, and Ca. Ni and Hg levels were found above the PEL values. It was determined that the accumulation effect of Hg coming from the mafic rocks due to erosion in the marine environment was higher than that of Hg coming from the mine. The factor analyses showed an association between Hg, Ni, and Co. This reveals the importance of the contribution of mafic rocks reaching the marine environment by wave erosion. According to the factor analyses, high concentrations of Pb, Zn, Cd, As, Sb, Ba, Ti, and Zr were detected in the lithogenic sources.