The coinage metals, copper, silver, and gold, have unique characteristics for selective oxidation catalysis, particularly for partial oxidation of alcohols and olefins. A basic understanding of surface chemistry at the molecular level can help facilitate the improvement of current catalytic processes and the designing of new catalytic systems. In this critical review, the current state of knowledge of these reactions is reviewed. First, both the experimental and theoretical methods necessary for understanding surface reactivity are discussed with a specific set of examples directly related to these reactions. Next the state of understanding of the surface chemistry of the oxidation reactions of alcohols and olefins on these three coinage metals is reviewed and the reaction pathways are compared. Clear relationships between the low pressure surface science studies and more practical catalytic conditions are illustrated. Finally, recent theoretical advances in this area are discussed as well as possible future directions in this field (132 references).