Bosko created the Alchemist based on his carvings at False Idol, San Diego. The Alchemist was sold both at False Idol and online through Tiki Objects by Bosko. The first edition in psychedelic green was 125 pieces, not including artist proofs.

Several artist proofs were made and a few were hand-carved by Bosko after he had taken the mug from the mold. Bosko made the area around the eyes, nose, tongue, and decorations on the back of the mug deeper. He wanted to add some definition into the face and back of the mug.