Ytterbium-doped LiYF4 (Yb:YLF) is a commonly used material
for laser applications, as a photon upconversion medium, and for optical
refrigeration. As nanocrystals (NCs), the material is also of interest
for biological and physical applications. Unfortunately, as with most
phosphors, with the reduction in size comes a large reduction of the
photoluminescence quantum yield (PLQY), which is typically associated
with an increase in surface-related PL quenching. Here, we report
the synthesis of bipyramidal Yb:YLF NCs with a short axis of ∼60
nm. We systematically study and remove all sources of PL quenching
in these NCs. By chemically removing all traces of water from the
reaction mixture, we obtain NCs that exhibit a near-unity PLQY for
an Yb3+ concentration below 20%. At higher Yb3+ concentrations, efficient concentration quenching occurs. The surface
PL quenching is mitigated by growing an undoped YLF shell around the
NC core, resulting in near-unity PLQY values even for fully Yb3+-based LiYbF4 cores. This unambiguously shows
that the only remaining quenching sites in core-only Yb:YLF NCs reside
on the surface and that concentration quenching is due to energy transfer
to the surface. Monte Carlo simulations can reproduce the concentration
dependence of the PLQY. Surprisingly, Förster resonance energy
transfer does not give satisfactory agreement with the experimental
data, whereas nearest-neighbor energy transfer does. This work demonstrates
that Yb3+-based nanophosphors can be synthesized with a
quality close to that of bulk single crystals. The high Yb3+ concentration in the LiYbF4/LiYF4 core/shell
nanocrystals increases the weak Yb3+ absorption, making
these materials highly promising for fundamental studies and increasing
their effectiveness in bioapplications and optical refrigeration.