Recent studies have reported the significant role of Au-bearing nanoparticles in the formation of hydrothermal gold deposits. Despite the ever-increasing understanding of the genesis and stability of Au-bearing nanoparticles, it is still unknown how they behave when exposed to hydrothermal fluids. Here, we study the nanostructural evolution of Au–Ag nanoparticles hosted within Co-rich diarsenides and sulfarsenides of a natural hydrothermal deposit. We use high-resolution transmission electron microscopy to provide a singular glimpse of the complete melting sequence of Au–Ag nanoparticles exposed to the hydrothermal fluid during coupled dissolution–precipitation reactions of their host minerals. The interaction of Au–Ag nanoparticles with hydrothermal fluids at temperatures (400–500 ºC) common to most hydrothermal gold deposits may promote melting and generation of Au–Ag nanomelts. This process has important implications in noble metal remobilization and accumulation during the formation of these deposits.