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While bartenders in other cities have complicated the Sazerac by using a combination of spirits [us included - Difford's Sazerac recipe], in New Orleans...
I have found that if I use a measure of caster (superfine) sugar - a heaping teaspoon in the case of a Sazerac - add an equal measure of water plus the bitters and stir thoroughly, the sugar ends up dissolving completely without the hassle of making sugar syrup.
Straightforward, simple and delicious. I like using the absinthe in the drink rather than rinsing. Used sazerac rye and homegrown lemon for spritz. Also knocked back the sugar a tad as I find the conventional sweet/bitter/dry balance a little overbearing.
I used a spanish dry anisette (La violetera) because I don't have absinthe for the rinse and I obtained a nice cocktail. It has an interesting aftertastse, but it's not for the faint of heart.
I've also always done the Absinthe in a misting bottle, as Mike stated, and spritz it onto a very chilled glass out of the freezer. I feel there is less waste of the Absinthe that way. Used Sazerac Rye and muddled a sugar cube ( like an Old Fashioned). Great cocktail.
A bartender at the excellent New Orleans establishment Mr. B's gave me a tip for making Sazeracs. He put absinthe in a tiny spray bottle and used spritzing to replace the standard rinsing. The bouquet is much more pronounced and announces the drink to your senses well ahead of its arrival to your lips.
Replacing both the bitters and the sugar syrup with 10 ml Campari will yield a surprisingly tasty version of the Sazerac. And the same goes for the Old Fashioned.
I know, it sounds radical, but it's actually fine.
My preferred measures:
2 shots Rye
1/2 shot simple syrup
1/2 shot water
4 or 5 dashes Peychauds bitters
Absinthe.
Stir the rye with water, simple syrup and bitters with ice. Coat the inside of a ice chilled glass with Absinthe. Pour out the extra Absinthe and pour in the drink. Squeeze a lemon peel and drop in the glass to serve.