Herein, we report the overall structure of phosphine and mercaptan co-protected [Au7Ag8(SPh)6((p-OMePh)3P)8]NO3 (Au7Ag8) nanocluster. As a point of comparison, we synthesize a nanocluster with the same structure but a different metal composition, [Au13Cu2(TBBT)6((p-ClPh)3P)8]SbF6(Au13Cu2), as previously reported. We conduct a comprehensive comparison of their optical and electrocatalytic CO2 reduction properties. The results reveal that the photoluminescence quantum yield (PLQY) of the Ag-doped Au7Ag8 nanocluster is 1.62%, which is seven times higher than that of the Cu-doped Au13Cu2 nanocluster (PLQY = 0.23%). Furthermore, the Au13Cu2 nanocluster demonstrates significantly enhanced catalytic selectivity for CO, with its CO faradaic efficiency ranging from 79.7% to 90.4%, compared to the Au7Ag8 nanocluster (CO faradaic efficiency: 67.2% to 77.7%) within the potential range of -0.5V to -1.1V. Structural analyses attribute the superior CO selectivity of Au13Cu2 to the copper dopant.