It seems weed sticker shock has hit the shoppers of the Colorado marijuana shops as prices skyrocket in the wake of supply in demand. The state doesn’t regulate the prices on the sale of pot, they just get their share fare of taxes from the purchases made, along with local taxes. The local and state taxes combined bring your sale of weed up by 25%.
According to NBC News on Jan. 2, folks paying $250 an ounce in the Colorado medical marijuana shops last week are now seeing the price jump to $400 an ounce for the same high-grade product since recreational users are now allowed to purchase the pot. These prices don’t include the 25% tax on the product.
While some are calling this sticker shock, folks on the other side of the country are scratching their heads. The $400 seems quite reasonable for folks in Massachusetts and Connecticut, especially for high-grade weed. The $250 an ounce in the New England neck of the woods seems almost unheard of for the product grade sold in Colorado’s shops.
Since the prices aren’t regulated by the state, it is up to the pot shop owners to decide their own prices. One Colorado pot dispensary was selling an eighth of an ounce for $70 when the day before it was only $25, which is more than double the price. One of the folks keeping tabs on the pot prices in Colorado is Rachel Gillette, executive director of Colorado’s chapter of NORML, a nonprofit advocating for legalizing marijuana nationwide.
Gillette said that folks waiting in line at the marijuana dispensaries got a jolt of sticker shock when seeing some of the prices in the individual shops. She expects this brand new market of selling weed for recreational use will stabilize in price. She doesn’t see it happening overnight, but it will eventually come around.
With all the hurdles pot advocates had to jump over to get to the place they are today in Colorado, it would really be a shame for people to use the opportunity as a get-rich-quick business. People who live in Colorado can buy an ounce of pot a day, whereas folks from out-of-state are limited to a quarter of an ounce a day.
Pot smokers would benefit from some local reporter to start keeping tabs on the prices so the people looking for weed can shop where the price is right. This might work on keeping the prices from skyrocketing as folks will make their purchases at the places that sell weed for a reasonable price. Whatever happens, the nation is watching how this works for the folks of Colorado today.