Cu(s) + 2AgNO3(aq) → Cu(NO3)2(aq) + 2Ag(s)
In this reaction, the copper metal acts as the reducing agent, while the silver ions act as the oxidizing agent. The copper atoms lose electrons to the silver ions, causing the copper to be oxidized and the silver to be reduced. The products of the reaction are copper nitrate, which is soluble in water, and silver metal, which is a solid.
This type of reaction is commonly observed when a more reactive metal is added to a solution of a less reactive metal salt. The more reactive metal displaces the less reactive metal from the solution, resulting in the formation of a new metal salt and the precipitation of the less reactive metal.