We discuss the role of the metal-ligand (M-L) interfaces in the chemistry of ligand protected, atomically precise noble metal clusters, a new and expanding family of nanosystems, in solution as well as in gas phase. A few possible mechanisms in which the structure and dynamics of M-L interfaces could trigger intercluster exchange reactions are presented first. How interparticle chemistry can be a potential mechanism of Ostwald ripening, a well-known particle coarsening process, is also discussed. Reaction of Ag59(2,5-DCBT)32 (DCBT = dichlorobenzenethiol) with 2,4-DCBT leading to the formation of Ag44(2,4-DCBT)30 is presented, demonstrating the influence of the ligand structure in ligand-induced chemical transformations of clusters. We also discuss structural isomerism of clusters such as Ag44(SR)30 (-SR = alkyl/aryl thiolate) in gas phase wherein