I've built up a play time of about 10 hours now, but I'm giving up hope of ever reaching Tier 2. For me that is also the point at which I'd imagine regularly buying energy, so maybe Three Rings won't ever see any financial return for their lovely game from me.
Why? Well, the price and utility of recipes vs off-the-peg vendors makes it a no brainer that you only want to get your equipment from the alchemy machine. I'd enthusiastically made a shopping list for my path to 2 star equiptment bliss, and started on swords buying Bolted Blade and Calibur recipes and piliing up materials from adventures. I estimated I'd need do about 50 levels to buy 5 more 2* recipes - a big difference from the 15 the Spiral Warden needs for tier 2, but no worries, it's fun bumbling around this beautiful, varied world.
I realised I wasn't picking up enough 2* materials, but I wasn't worried because I'd seen Brinks swapped tokens for these. I was also hoping I could rely on Basil to come up with the more interesting recipes on my wish list. I thought I could then offer something useful to the guild that kindly took me on mixing recipes for others. However, I've noticed the last few times I've visited Basil there's only been the same undesirable 1* recipes available. Then the penny dropped that my tokens didn't match the swaps Brinks would make for the Swordstone I wanted, and he didn't offer things like Jelly Core and Frayed Fabric at all.
Suddenly the likelyhood of much more than 50 levels in Tier 1 and loads of hanging around Haven trying to trade materials opened up, and I lost the will to carry on. Perhaps I'm playing like an idiot. Perhaps I should be buying energy, trading it for crowns, then buying equipment from vendors. Perhaps I should relish 100 game hours in Tier 1 or learn to love haggling in Haven. But I had been enjoying my strategy and don't really want to change.
It's been said before that the game needs an exchange/ auction house (for materials and recipes as well as equipment). Without it, I don't think I'll spending much more time playing it. That is a shame, because it is fun, very scenic and well priced (I expected to pay about $2/ month for the slots and crafting in casual play).
You'll find you get better materials/crowns/heat in the levels past the mid-point terminal, so make sure you're not quitting too early.
And if it's swordstones you're after, make sure you're doing gates/levels that have most mobs that drop them.
Edit: Also you're being unlucky in only seeing 1 star recipes from Basil