Silver‐gold nanocrystalline films were sputtered on HDPE substrates by a physical vapour deposition process using alloys with a nominal composition of 65% silver/35% gold or 35% silver/65% gold by weight, with comparison to a 100% silver target. Novel process conditions were introduced to include both water and oxygen as reactive gases. X‐ray diffraction and chemical digests were used to assess the structure and chemical composition of the films. Log reductions and corrected zone of inhibition tests were used to measure the biological properties. Despite a range of physical and chemical properties, biological tests showed that the bactericidal properties of all silver‐gold films were comparable with silver‐only films in the short term and 65% silver films made with Novel sputtering conditions had comparable bacteriostatic abilities to silver‐only over a 7‐day period. The benefit of including gold may be seen in future studies of anti‐inflammatory activity.