In this paper, we report the reduction of silver and gold salts by methanolic solution of sodium borohydride in tetrazolium based ionic liquid as a solvent at 30 degrees C leads to pure phase of silver and gold nanoparticles. Silver and gold nanoparticles so-prepared were well characterized by powder X-ray diffraction measurements (XRD), transmission electron microscopy (TEM) and QELS. XRD analysis revealed all relevant Bragg's reflection for crystal structure of silver and gold metal. XRD spectra also revealed no oxidation of silver nanoparticles to silver oxide. TEM showed nearly uniform distribution of the particles in methanol and it was confirmed by QELS. Silver and gold nanoparticles in ionic liquid can be easily synthesized and are quite stable too.