The Elder Cipher is acquired in level 34 & 35 Prison of Elders and has a chance to drop after defeating the final boss.
You’re not guaranteed this bounty, and there’s nothing you can do to increase your chances of it dropping. It won’t drop on the level 28 or 32 difficulties.
The final boss 34/35 can drop the bounty; it’s not from a chest, so you don’t need to have a Treasure Key in order to get the initial bounty (you’ll need a Key later though).
Make sure you have at least 1 slot in the “Bounties” section of your inventory!
This is unknown. There have been multiple reports, claiming that it’s dropped after multiple attempts on either the 34 or 35 difficulty, but no video proof as of yet.
It’s widely speculated that it will only drop on the first attempt on that difficulty, per character, per week.
At worst, you’ll have a total of 6 chances per week to get it, assuming you try on each character on both 34 & 35.
Now that gas dropped for you, take The Elder Cipher to Variks. He’ll let you know that you can choose either Lord of Wolves, Dreg’s Promise, or Queenbreaker’s Bow. It doesn’t matter which one you choose here, because Variks will give you the choice at the end.
The Elder Cipher – After choosing the weapon, you’ll need to acquire the Queen’s Cipher (The Elder Cipher). You do this by completing the Prison of Elders and opening the “big” chest at the very end with a Treasure Key.
You need to do this on a challenge difficulty, but it’s not a guaranteed drop. So you can find this in the level 32, 34, or 35 “big” chest, but you may need to go through 2+ chests in order to get it.
If The Elder Cipher isn’t rewarded from the first time you open the chest, make sure you have another Key, and run PoE again.
If you need another Treasure Key, and have already completed the story missions on each character, you have a chance of getting them from:
Now that you’ve looted the 32+ big chest with a Treasure Key, you’ve got The Elder Cipher. Take this back to Variks. He will give you The Elder Cipher, and at this point, you’ll simply need to wait.
It could take 1 day or even several. The waiting period is not the same for everyone, so while you may have needed to wait 1 day, your friend might need to wait 2+ days.
Once the Cipher is “fixed” you can go back to Variks and pick up The Elder Cipher. He’ll tell you that defeating enemies in the Arena is the only way to fix it. At this point you’ll need to get 1,000 points. It doesn’t matter what you kill, so long as you gain 1,000 points.
The Elder Cipher is rewarded after accruing the points, and now you’ll be able to once again confirm the Exotic weapon that you want. Choose either Lord of Wolves, Dreg’s Promise, or Queenbreaker’s Bow.