A complex concentrated noble alloy (CCNA) of equiatomic composition (Ag₂₀Pd₂₀Pt₂₀Cu₂₀Ni₂₀–20 at. %) was studied as a potential high—performance material. The equiatomic composition was used so that this alloy could be classified in the subgroup of high—entropy alloys (HEA). The alloy was prepared by induction melting at atmospheric pressure, using high purity elements. The degree of metastability of the cast state was estimated on the basis of changes in the microstructure during annealing at high temperatures in a protective atmosphere of argon. Characterisation of the metallographically prepared samples was performed using a scanning electron microscope (SEM) equipped with an energy dispersive spectrometer (EDS), differential scanning calorimetry (DSC), and X–ray diffraction (XRD). Observation shows that the microstructure of the CCNA is in a very metastable state and multiphase, consisting of a continuous base of dendritic solidification—a matrix with an interdendritic region without other microstructural components and complex spheres. A model of the probable flow of metastable solidification of the studied alloy was proposed, based on the separation of L—melts into L₁ (rich in Ni) and L₂ (rich in Ag). The phenomenon of liquid phase separation in the considered CCNA is based on the monotectic reaction in the Ag−Ni system.

The development of new multicomponent nanoparticles is gaining increasing importance due to their specific functional properties, i.e., synthesised new complex concentrated nanoparticles (CCNPs) in the form of powder using ultrasonic spray pyrolysis (USP) and lyophilisation from the initial cast Ag₂₀Pd₂₀Pt₂₀Cu₂₀Ni₂₀ alloy, which was in the function of the material after its catalytic abilities had been exhausted. Hydrometallurgical treatment was used to dissolve the cast alloy, from which the USP precursor was prepared. As a consequence of the incomplete dissolution of the cast alloy and the formation of Pt and Ni complexes, it was found that the complete recycling of the alloy is not possible. A microstructural examination of the synthesised CCNPs showed that round and mostly spherical (not 100%) nanoparticles were formed, with an average diameter of 200 nm. Research has shown that CCNPs belong to the group with medium entropy characteristics. A mechanism for the formation of CCNPs is proposed, based on the thermochemical analysis of element reduction with the help of H₂ and based on the mixing enthalpy of binary systems.