Fluorescent clusters: The agglomeration of Ag clusters resulting from the codeposition of Ag and Ar atoms onto a cold substrate is accompanied by light emission from deexcitation of intermediately formed electronically excited Ag2* and Ag3* species. The yield of chemiluminescence was investigated as a function of the deposition rates of Ag and Ar. The relative concentrations of Ag, Ag2, Ag3, and Ag8 species were monitored by means of their fluorescence spectra, and it is concluded that the light‐emitting species are created by aggregation of Agn clusters with n>8.