Low Level Alchemy (or low alch / low alching) is a spell that can turn most items into coins at 40% of the specialty shop sale price which is equivalent to General Store buying prices. The amount of coins is normally 2/3 of the high alchemy value.
This spell is obtained at level 21 Magic and costs 1 Nature rune and 3 Fire runes to cast. The casting speed of this spell is about half of the speed of High Level Alchemy, but still produces less experience than the High Level Alchemy, and with greater cost, it is not recommended for training Magic. This spell is not recommended for profit as the cost of the item and spell is far more than the money obtained and you can often sell to another player for far more.
Since this spell has the same cost as High Level Alchemy when cast with a fire staff (1 nature rune) and produces less gold, most players view it as useless. However, it can be cast for free while wearing the Explorer's ring, allowing it to serve as a pseudo-general store.
Low level alchemy WILL interrupt skilling (e.g. woodcutting, fishing, mining, etc).