Considering you can transmute iron into gold at a 2/1 ratio and copper into iron at a 3/1 ratio... getting only 1/1 from reverse transmutation is definitely NOT overpowered since you are getting less than what it would take to make what you are reverse transmuting.
Exactly plus you technically get more value from transmutation then to buy said item from Clint. To clarify although you get less gp worth to sell the gold you would get from the transmutation you would not have been able to afford that much gold from selling the irridium :)
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edit: typo