We present optical absorption and fluorescence spectra in the UV-visible range of size selected neutral Ag-n clusters (n = 1-9) in solid neon. Rich and detailed optical spectra are found with linewidths as small as 50 meV. These spectra are compared to time dependent density functional theory implemented in the TURBOMOLE package. Excellent agreement between theory and experiment is achieved in particular for the dominant spectroscopic features at photon energies below 4.5 eV. This allows a clear attribution of the observed electronic transitions to specific isomers. Optical transitions associated to the s-electrons are concentrated in the energy range between 3 and 4 eV and well separated from transitions of the d-electrons. This is in contrast to the other coinage metals (Au and Cu) which show a strong coupling of the d-electrons. (C) 2011 American Institute of Physics. [doi:10.1063/1.3589357]