Alching is a complete waste of time. This isn't 2005. Why spend time alching when you could super heat and get 3 good skills up for the same mats. Super heat gold bars, craft the bars into anything of your choice. Hell turn them into bracelets and sell to teh other morons still dumb enough to alch.
You get the cheapest smith crafting and magic xp this way which will save you alot of mils in the end. Not to mention your account just looks that much better.
Or use the guy above me method and gain shit fletch and little money if any and lose alot more later when you decide to train or sell the account.