1 Death of Inhaling Hatmaking Chemicals: BUT HWAIT, GUV. ’OW HEXACTLY DO CHOO TURN FINGS HINTO GOLD WIFF THE PHILOSOPHER’S STONE?
2 Shopkeeper: The legends don’t specify. I suppose you touch the Stone to the item in question?
3 Death of Inhaling Hatmaking Chemicals: BUT THEN CHOO’D TURN HINTO GOLD YOURSELF WHEN CHOO PICK IT UP!
4 Shopkeeper: I just tell the legends! I don’t make them up!
4 Death of Insanely Overpowered Fireballs: HOLY MIDAS, BATMAN.

I've always wondered about this. Assuming you find the Philosopher's Stone, how exactly do you use it to turn stuff into gold?

I kind of assumed there'd be some sort of recipe/procedure, but when I searched I discovered that nobody knows! The actual method of doing the transformation is unspecified, or lost to the vagaries of legend and time.

So... it's possible that we are all using Philosopher's Stones every day, we just don't know how to use them properly to turn stuff into gold.