We report an efficient synthesis of copper indium sulfide nanocrystals with strong photoluminescence in the visible to near-infrared. This method can produce gram quantities of material with a chemical yield in excess of 90% with minimal solvent waste. The overgrowth of as-prepared nanocrystals with a few monolayers of CdS or ZnS increases the photoluminescence quantum efficiency to > 80%. On the basis of time-resolved spectroscopic studies of core/shell particles, we conclude that the emission is due to an optical transition that couples a quantized electron state to a localized hole state, which is most likely associated with an internal defect.