- a form of chemistry and speculative philosophy practised in the Middle Ages and the Renaissance and concerned principally with discovering methods for transmuting baser metals into gold and with finding a universal solvent and an elixir of life.
- any magical power or process of transmuting a common substance, usually of little value, into a substance of great value.
- any seemingly magical process of transforming or combining elements into something new:Through some kind of alchemy he has reinvented himself as a writer.
And wouldn’t it be great to produce something of value out of two or three much cheaper (or even free) base items?
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