The Philosopher's stone, also known as the Sorcerer's Stone, was a legendary stone told to change metal and rocks into jewels and gold and and also used to produce the Elixir of Life which was believed to make the drinker immortal. The only known creator of the Philosopher's Stone was Nicolas Flamel, who had become immortal with his wife, Perenelle, with the Elixir. Flamel died when the Stone was destroyed to eliminate any chances of  the Dark Lord Voldemort from rising back again, who had first failed to acquire the stone when a young wizard, Harry Potter, had taken it away. The Philosopher's Stone was once known to be merely a legend and was false in an era of the medieval times, which is proven by the book Wizardology, written by Merlin Ambrosius, who had scrawled and spread that the legend of the Stone was nonsense. The Stone was figured to be created by more than one advanced alchemists, one of them being Nicolas Flamel, but we cannot know all about this great stone, as they are all dead.