Silver and silver iodide nanocrystals have been synthesized in the water-in-CO(2) reverse microemulsions formed by the commonly used surfactant, sodium bis(2-ethylhexyl)sulfosuccinate (AOT), in the presence of 2,2,3,3,4,4,5,5-octafluoro-1-pentanol as cosurfactant. The nanometer-sized aqueous domains in the microemulsion cores not only act as nanoreactors, but the surfactant interfacial monolayer also helps the stabilization of the metal and semiconductor nanoparticles. The transmission electron microscopy results show that silver and silver iodide nanocrystals with average diameters of 6.0 nm (standard deviation, SD=1.3 nm) and 5.7 nm (SD=1.4 nm), respectively, were formed. The results indicate that the method can be utilized as a general and economically viable approach for the synthesis of metal and semiconductor quantum dots in environmentally benign supercritical carbon dioxide.