Surfactant bound stable colloids of Au, Ag, and Pd were prepared by the solvated Metal Atom Dispersion (SMAD) method, a method involving co-condensation of metal and solvent vapors on the walls of a reactor at 77 k. The as=prepared dodecanethiol-capped Au and Ag colloids consisting of polydisperse nanoparticles were transformed into colloids consisting of highly monodisperse nanoparticles by the digestive ripening process. In the case of Pd colloids, digestive ripening led to the formation of thiolate complexes. The [Pd(SC12H25)2]6 complex formed from the dodecanethiol-capped Pd nanoparticles was found to be a versatile precursor for the synthesis of a variety of Pd nanophases such as Pd(0), PdS, and Pd@PdO by soventless thermolysis. Co-digestive ripening of as-prepared dodecanethiol-capped Au or Ag colloids with Pd colloid resulted in Au@Pd and Ag@Pd core-shell nanoparticles, respectively; attempts to transform the core-shell structures into alloy phases even at high temperatures were unsuccessful. Phosphine-capped Au nanoparticles were also prepared by the SMAD method and refluxing of this colloid resulted in an Ostwald ripening process rather than the expected digestive ripening due to the labile nature of bound PPh3. The labile nature of the bound phosphine was studied using 31P NMR spectroscopy and utilized in the adsorption of CO. Palladium nanoparticles obtained from the SMAD Pd-butanone colloids and Pd@PdO nanoparticles prepared by the solventless thermolysis of Pd-dodecanethiolate complex were found to be good catalysts for the generation of H2 from AB via either hydrolysis and methanolysis. The active hydrogen atoms produced during the hydrolysis and methanolysis diffuse into the Pd lattice. It was also noticed that hydrogen atoms that were buried deep inside the Pd lattice cannot be removed completely by heating the sample even at 600°C. Wet chemical reduction method was employed for the synthesis of PVP capped, nearly monodisperse, spherical Ir nanoparticles which undergo a polymer driven self-assembly at 80°C to afford rectangular structures and interlinked particles.