Beginning Wednesday, July 19, the world's top alchemical authorities will gather in Philadelphia for the International Conference on the History of Alchemy and Chymistry. Presented by the Chemical Heritage Foundation (CHF), the event casts a strictly scholastic eye on the vital but often underappreciated science.

"Alchemy is regarded as an unfortunate ancestor of chemistry," says CHF historian Mary Ellen Bowden. Indeed, in the 16th century, most scientists falsely believed all metals were made of sulfur and mercury. These early chemists also toyed with the idea that matter possessed a latent ingredient that could lead to successful transmutation.

"They were constantly looking for something else," says CHF communication director Neil Gussman. This elusive substance (no, we still don't know what it is) was seen as the key to unlocking the philosopher's stone, the mythical element made famous by one Mr. Potter.

While scholarly presentations make up the bulk of the conference (see Belgium native Brigitte Van Tiggelen talk on the deception present in the field in its early years; Cal State Fullerton professor Margaret Garber, on the Catholic Church's attempts to stamp out alchemical progress, etc.), it's also an opportunity for the academics to examine CHF's assemblage of ultra-rare alchemical books. The collection, which the CHF acquired thanks to a $10 million personal check from Intel founder/renowned chemist Gordon Moore, is an archival Holy Grail for those in the field. Bowden equates it to letting source-material-starved researchers "loose in a candy shop."

The texts are already responsible for some groundbreaking finds. For example, Sir Isaac Newton, the undisputed OG of the science game, was a practicing alchemist. Calling BS? Not so fast: Several years ago, Larry Principe, the Johns Hopkins professor who organized the conference, discovered a centuries-old paper featuring alchemical formulas in Newton's handwriting. This evidence was considered a major step in legitimizing alchemy as a formative precursor to modern chemistry. "When Newton was inventing physics and modern math as his day job, he was performing alchemy experiments at night," says Gussman.

Although the academic aim of the conference is as clear-cut as a high school chem experiment, there's also the driving need to combat alchemy's laughingstock stereotype, an annoyance Gussman chalks up to "chronological snobbery." Some contemporaries still refuse to accept the immense impact it had on modern scientific processes.

"The history of chemistry is about teaching humility," says Van Tiggelen. "These people did not know [transmutation] was impossible. In their minds, it was possible to achieve things we now think are foolish. But in two or three centuries, our successors might think the same. We can learn much more if we take them seriously."

Sadly, if you're looking for a get-rich-quick scheme, the magical elixir in your head ain't mixing quite right. While Principe has recreated experiments for study purposes, the conference won't feature any attempts to transform Jersey Shore sand into glimmering gold bullion. "It's people studying how science began," says Gussman. "There aren't any practicing alchemists coming. But they are out there."

International Conference on the History of Alchemy and Chymistry

July 19-22, Chemical Heritage Foundation, 315 Chestnut St., 215-925-2222, www.chemheritage.org