We report a simple synthesis of silver:glutathione (Ag:SG) clusters using a cyclic reduction under oxidative conditions. Two syntheses are described which lead to solutions containing well-defined Ag31(SG)19 and Ag15(SG)11 clusters that have been characterized by mass spectrometry. The optical properties of silver:glutathione (Ag:SG) cluster solutions have been investigated experimentally. In particular, the solution containing Ag15(SG)11 clusters shows a bright and photostable emission. For Ag31(SG)19 and Ag15(SG)11 clusters, the comparison of experimental findings with DFT and TDDFT calculations allowed us to reveal the structural and electronic properties of such low nuclearity liganded silver clusters.