Fuel cell catalysts which are efficient, long-lived, and refurbishable in-situ include gold carrying a UPD (underpotential deposited) deposit of another element. UPD Ag, Pt, Pd, Ir, Rh, or Tl, Pb, Bi is formed on Au crystallites which are carried on and bonded to the surfaces of substrate carbon particles. The crystallites cause dissociative adsorption of the oxygen molecules so that four electrons are produced per molecule during the reduction reaction which is involved. In an alkaline electrolyte, the catalyst metals such as Pd, lr, Ag, Rh and Ptshow no tendency to poison the counter electrode (counter relative to the other electrode) since each of those metals is a good catalyst for both electrodes. Suitable fuels include methanol (CH 3 OH), formaldehyde (HCHO), and formic acid (HCOOH).