The number of researchers and publications devoted to the history of alchemy has seen exponential growth and diversification in recent decades, to such an extent that some scholars speak of a "New Historiography of Alchemy". On the occasion of the seventy-fifth anniversary of the Society for the History of Alchemy and Chemistry, this paper outlines some highlights of the literature since 1990, with a view to identify current trends but also challenges for the future. Some of the most important changes identified are a marked awareness of the risks of presentism, a shift from ambitious histories to contextualised microhistories, a heightened recognition of the internal diversity of historical alchemy, and a greater emphasis on its practical dimensions and its role in the Scientific Revolution. Among the challenges, the paper underscores the potential risks of an excessive historiographical fragmentation, the need for further interdisciplinary training and cooperation, and the responsibilities of alchemy historians towards students and the general public alike.