A process for the production of metal nanoparticles. Nanoparticles are formed by combining a metal compound with a solution that comprises a polyol and a substance that is capable of being adsorbed on the nanoparticles. The nanoparticles are precipitated by adding a nanoparticle-precipitating liquid in a sufficient amount to precipitate at least a substantial portion of the nanoparticles and of a protic solvent in a sufficient amount to improve the separation of the nanoparticles from the liquid phase.