A dual contrast agent that combines perfluorocarbon droplets and metal nanoparticles has been developed for combined ultrasound and photoacoustic imaging. Metal nanoparticles were incorporated in dodecafluoropentane (DDFP) droplets encapsulated in a bovine serum albumin (BSA) shell. To embed aqueous colloidal suspensions of metal nanoparticles in DDFP, a phase transfer of the plasmonic nanoparticles was completed in two different strategies, a single and a double ligand exchange of capping materials. Emulsion techniques were used to encapsulate phase transferred metal nanoparticles within the DDFP droplets. Spectrophotometry and cryogenic transmission electron microscopy were used to characterize and to confirm successful fabrication of the dual contrast agent.