The electrochemical behavior of nanoscale solids has become an important topic to applications, such as catalysis, sensing, and nano–electronic devices. The electrochemical behavior of elemental metal and alloy particles was studied in this work both theoretically and experimentally. A systematic thermodynamic derivation for the size–dependent Pourbaix Diagram for elemental metal particles is presented. The stability of Pt particles was studied by in situ electrochemical scanning tunneling microscopy (ECSTM). It is shown that small Pt particles dissolve at a lower potential than the corresponding bulk material. For the alloy particles, two size ranges of AuAg particles, ∼4 nm and ∼45 nm in diameter, were synthesized by co–reduction of the salts of Au and Ag from an aqueous phase. The alloy particles were dealloyed at a series of potential by chronoamperometry in acid, and the resulting morphology and composition were characterized by electron microscopy, energy dispersive X–ray spectroscopy (EDX). In the case of the smaller particles, only surface dealloying occurred yielding a core–shell structure. A porous structure was observed for the larger particles when the potential was larger than a critical value that was within 50 mV of the thermodynamic prediction.