To provide a method of producing two layer coat particle powder in which the adhesive stability of a coat layer is excellent and which has excellent electrical conductivity as well, and to provide two layer coat particle powder obtained by the production method.

Regarding the method of producing particle powder in which the surface of each core material particle is provided with a nickel coat layer and a gold coat layer, powder used as the core material in a nickel coat layer forming stage is contacted with an electroless nickel plating liquid so as to be a slurry state, a reduction catalyst of nickel is dropped thereto while stirring the same to deposit electroless nickel on the surface of the particulate matter of the powder and to form a nickel coat layer provided with a projection shape, and, in a gold coat layer forming stage, a gold coat layer is formed on the surface of the nickel coat layer with an electroless gold plating liquid.