I recently decided to start making my own LugolsIodine 5% solution after calculating that I could do so for about $1.56 an ounce, as opposed to $25 an ounce online. I found this receipe online, which was posted by grizz, who often posts on this board. Once you have your materials assembled, it takes less than 5 minutes to so this - it is remarkably simple. Here is the receipe, with my additions:
Recipe for making Lugols 5% (6.25 mg/drop) in a nutshell:
1. Obtain a clean, empty 1 quart container (with lid)
2. Fill about halfway with distilled water (RO water is also okay)
3. Put in 44 grams of elemental Iodine crystal (you need a scale)
4. Stir with non-metal spoon (wood is okay).
5. Put in 88 grams of potassium iodide, and stir some more.
6. Fill jar to about 80% of capacity with distilled water.
7. Let it set overnight. If cap is metal, put waxed paper between it and
the jar; Iodine attacks metal. Rotate occasionally.
I mix this up in a 1 quart (32 ounce) glass jar (a large empty mayonnaise or pickle jar will do), then let it sit for 3 or 4 days until all the iodine crystals dissolve.
I then transfer to smaller 16 oz amber round glass jars (available at medical supply stores) to store in my cupboard. Then transfer to smaller glass bottles with a dropper as needed.