In colloid and nanoparticle chemistry, particle size, shape, crystallinity, surface morphology and composition are controlled by employing the mechanisms of burst nucleation, diffusional growth, aggregation, or their combinations. Here we review and survey practical examples of recently developed methods for preparing metal colloids and nanoparticles for industrial applications such as photovoltaics, catalysis, and consumer electronics. We discuss relevant theoretical models, many of which are general, and identify growth mechanisms that play a major role in other systems and applications as well.