Thin films with tunable optical properties from yellow to metallic were prepared from a monolayer coating of silver nanoparticles (AgNP) onto a polyelectrolyte multilayer (PEM) thin film. The AgNP were synthesized using various concentrations of stabilizing polyelectrolytes leading to a competitive adsorption concept in which AgNP compete with excess polyelectrolytes to coat the cationic PEM top layer. The AgNP were synthesized by chemical reduction of Ag salts using poly(styrene 4-sulfonic acid-co-maleic acid) (PSS-co-MA) as stabilizing agent to produce nanoparticles coated with both a strong acid (sulfonic) and a weak acid (carboxylic) moiety. Although all the nanoparticle solutions displayed a characteristic bright yellow due to the localized surface plasmon band around 420 nm, the monolayer films of nanoparticles obtained after dipping displayed striking different optical properties. When using a high PSS-co-MA content in the solution, a pale-yellow film was obtained which color shifted to orange and metallic when the capping concentration was decreased from 0.25 to 0.001 mM. The optical properties of the AgNP film could be further changed by galvanic replacement of the Ag with gold ions to produce a gold monolayer. These results are interesting to produce surface with tunable catalytic properties, tunable optical properties, or to be used as primer for the metallization of polymeric surfaces.