In order to assess ability of Spirulina platensis to recover silver and gold ions from the environment the bioaccumulation of silver and gold ions and their effect on growth, proteins and carbohydrates content of Spirulina platensis biomass was studied. Silver nitrate (AgNO3) in concentration range 0.01-1 mg/dm3 and tetrachloroaurate Na[AuCl4] in concentration range 18.5-370 mg/dm3 were added as component of the Spirulina platensis cultivation medium. In case of silver two cultivation media were studied: standard and Cl-free. The process of silver and gold uptake was traced using neutron activation analysis. Presence of silver ions in standard cultivation medium reduced biomass productivity by 66 %, while in Cl-free biomass productivity was reduced by 11.8 % only. The reduction of proteins content by 30 % in Cl-free medium and by 19 % in standard medium was also observed. The experiments showed that in case of gold ions loading, the biomass productivity and protein content were reduced only at high Na[AuCl4] concentration in the medium. The behaviour of carbohydrates content change was similar under silver and gold loadings: decrease at low metal concentration followed by increase at high metal concentrations. Scanning electron microscopy allowed observation of spherical metal nanoparticles, which were formed extracellularly during silver and gold bioaccumulation. Spirulina platensis can be used for recovery of precious metals as well as metal nanoparticles production.