Silver nanoparticles (AgNPs) have long been overshadowed by gold NPs' success in sensor and point-of-care (POC) applications. However, their unique physical, (electro)chemical, and optical properties make them excellently suited for such use, as long as their inherent higher instability toward oxidation is controlled. Recent advances in this field provide novel strategies that demonstrate that the AgNPs' inherent capabilities improve sensor performance and enable the specific detection of analytes at low concentrations. We provide an overview of these advances by focusing on the nanosized Ag (in the range of 1-100 nm) properties with emphasis on optical and electrochemical biosensors. Furthermore, we critically assess their potential for point-of-care sensors discussing advantages as well as limitations for each detection technique. We can conclude that, indeed, strategies using AgNP are ready for sensitive POC applications; however, research focusing on the simplification of assay procedures is direly needed for AgNPs to make the successful jump into actual applications.