Because the goblin mithril formula is completely controlled by the goblins, its market value is incredibly high. Its price is roughly equivalent to that of a Galleon by weight, but it is effectively priceless as it can usually only be acquired through back-channel dealings or high-end black markets. Many alchemists resort to buying antique goblin silverware just to melt it down for their own projects.
"I only have this one candlestick, which is authentic goblin silver," Professor Bones said, handing the item to Alan. He observed it carefully, finding the material far more dazzling than ordinary silver. When held against the light, shimmering, star-like points appeared within the metal, creating a beautiful, ethereal glow.
"It is said that Rowena Ravenclaw made her diadem from a single piece of refined mithril," Bones added. "That is the legendary Ravenclaw Diadem, though refined mithril itself is even rarer than the standard alloy."
Professor Bones then moved to another metal sample. "This is goblin urim steel—also known as goblin iron or simply goblin steel. It is a unique alloy possessing the greatest hardness and stability in the known wizarding world. While its magical conductivity is only average, it is a premier material for space-type alchemical items. If a Traceless Stretching Spell is cast upon it, the enchantment can theoretically last forever with regular recharging, and the potential for internal expansion is vast."
he held up a small brooch and infused a bit of magic into it. Instantly, a full set of robes appeared in his hand before he retracted them back into the small accessory.
"Beyond space-extension tools, its durability makes it ideal for high-security items like enchanted doors or chests. The main gates of the Gringotts vaults are rumored to be reinforced with urim steel, and the Sword of Gryffindor is said to be a masterpiece forged from a combination of urim steel and mithril," Bones explained.
Alan nodded. "The goblins clearly have a mastery over metallurgy if they hold so many high-quality formulas."
"Indeed," Bones agreed. "Their achievements in magic metals were so great that it gave them a massive amount of racial confidence, which eventually led to the famous goblin rebellions. It is rumored that behind those wars, there were many human Alchemy Masters who coveted those secret formulas. Some even say the conflicts were intentionally provoked by a coalition of alchemists."
"But the wizards won in the end, didn't they? Weren't the formulas seized as spoils of war?" Alan asked, recalling his History of Magic lessons.
"That was a victory in name only," Bones replied. "The wizards didn't have total assurance of success, and the goblins were stubborn. A total war would have decimated both sides. It is said that a single Alchemy Master stepped in to prevent the war from escalating further."
"Who was it?" Alan asked.
"Nicolas Flamel."
Alan blinked in surprise. "The man who created the Philosopher's Stone?"
"The very same. And his intervention is related to the metal I'm about to show you." This time, Professor Bones didn't produce a physical sample. Instead, he unfolded a piece of parchment and handed it to him. "I don't have a physical sample—they are nearly impossible to find. This photo is the only record I have."
Alan looked at the magical image, which showed a hand holding an ordinary-looking metal block. It looked somewhat like titanium—slightly lighter in color than silver.
"This is the invention that indirectly ended the rebellion: Flamel alloy," Bones said.
"Flamel alloy?" Alan repeated the name, catching the implication.
"Precisely. It is a brand-new magic metal formula invented by Nicolas Flamel. It possesses a hardness nearly equal to urim steel and the magical conductivity and stability of mithril. It is the perfect alchemical material."
"I see," Alan said. "If the wizards had a superior metal of their own, they no longer needed to steal the goblin formulas. Did he share the recipe with the Ministry?"
Bones smiled. "That is where the story becomes controversial. After the rebellion ended, many alchemists went looking for Flamel to ask for a steady supply. Instead, he simply disappeared."
"Disappeared?"
"He vanished from public life. Occasionally, pieces of Flamel alloy still appear on the market, which proves he is alive, but he clearly doesn't want the material to flow freely. Some think the manufacturing process is too difficult; others guess the raw materials are too expensive. Some even believe it requires the Philosopher's Stone itself, and that making the alloy somehow depletes the Stone's ability to produce the Elixir of Life. Whatever the reason, it is the rarest metal on the market."
he leaned in with a conspiratorial grin. "But I might have a piece very soon. Dumbledore promised me a sample of Flamel alloy as part of my compensation for teaching here this year."
"The Headmaster is giving away something that precious?" Alan asked, skeptical.
"Dumbledore and Nicolas Flamel are very close friends," Bones said, enjoying Alan's shocked expression. "He is one of the few people who knows exactly where the Flamels are hiding."
Alan gasped. He knew Flamel was alive—anyone with the Philosopher's Stone would be—but the idea that Dumbledore had a direct line to the greatest alchemist in history was a revelation.
It essentially meant the Headmaster had access to an endless supply of the world's most perfect metal.