'Tin prices rocket'

Few of us have escaped the cost of living crisis created by the political and economic chaos that’s dominated the headlines in recent years, unleashed by the likes of dictators such as Vladimir Putin. Hefty energy bills have impacted on everyone’s budgets, while at Alchemy we’ve also been hit hard by the rising price of materials. Particularly metal, which has soared in price; global conflicts have created an increasing demand for arms & munitions, AI data centres consume vast amounts in their electronics, and this, all added to the recent disruption of its principle supply from Southeast Asia. Alchemy’s core medium is pewter, which is 92% tin, which although might not seem an obvious component in AI or military manufacture, this and its other alloyed component metals are essential to countless modern industries. In January, headlines announced ‘Tin hits all-time high’, having risen in price to almost double in 12 months. As Alchemy refuses to compromise on quality – the elegance, detail, and durability that we pride ourselves on – we too are facing spiralling costs.

Pewter runs to the very roots of Alchemy and – like Alchemy – has a complex, storied history. The metalloid antinomy is also a key component in high calibre pewter – early alloys were known as ‘Britannia metal’ due to the compound’s discovery in Sheffield in the 1700s. In the Ancient World, antimony was used in medicines and cosmetics, and for many years Hollywood’s iconic Oscar statuettes were made with Britannia metal which were plated in gold. Today, antimony is employed in the production of military tech like armour-piercing ammunition and nuclear weaponry. The main source of the metalloid is China, and in September of 2024, the Chinese government imposed draconian limits on antimony’s export. Inevitably, the price of high-end pewter has rocketed.

Alchemy Gothic 'Churchyard' Necklace (P976)

Rewinding the clock back to 1977, Alchemy began as two young men forging bootleg punk pins in a bedsit in England, initially using scrap lead because it was cheap, workable and disrespectfully ‘punk’. However, with the ensuing social changes, and the enterprise’s increasing success, their designs transmuted into a more sophisticated product, and thus required higher quality materials. Far more difficult to work with, a tin-rich pewter became their new medium for casting the increasingly elaborate pieces they’d begun crafting, as Alchemy began its gradual evolution from a kitchen sink operation to an international brand. In retrospect, pewter was not only an obvious natural selection, but the ideal medium for the new Alchemy. While punk may have become somewhat gentrified in recent years and pewter become increasingly cool, casting jewellery for punks in the 70s in anything other than base lead would have been absurd!

Der Kandelgiesser, woodcut by Jost Amman, 1568

The same applied to the goths, bikers, and metalheads who began discovering Alchemy in the 80s, a clientele more interested in the quality, relevance and beauty of an item than in any tacky designer label or ridiculously inflated price tag. Like punks, goths, bikers, and metalheads, pewter has long endured a negative reputation. It was long derided as ‘a poor man’s silver’. Historically, only the aristocracy could afford silverware. The equivalent items you might find in a regular household – or on a tavern table – would be pewter. While it might not be what you’d see in a stately home or expensive antique shop, pewter was the material most English artisans had been crafting for centuries. As a medium, pewter chimes perfectly with Alchemy’s ethos, whereby we combine our love for tradition with a passion for creating beautiful, unusual yet affordable pieces for the discerning 21st Century patron.

Recent years have seen numerous fashionable designers begin to appreciate what Alchemy have known for almost fifty years – that pewter’s not ‘a poor man’s silver’ but a medium with its own unique qualities. Naturally, this has also increased demand. ‘While the wealthy in the past favoured more precious materials, pewter is making its way into high-end design studios and boutiques’, according to a New York Times article, published in September of 2025, entitled ‘Pewter is Getting Popular and Pricier’. The piece goes on to detail with several examples, including ‘the artist Christopher Gentner [who] uses pewter to craft showpiece-quality coffee tables and benches that are sold on the star interior designer Kelly Wearstler’s website (priced around $14,000).’ At Alchemy, we prefer to remain rather more punk than that. But perhaps if the price of pewter has to keep climbing, we’d prefer that it was due to fashion rather than fascists.

Alchemy Rings