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Customers Are Willing To Pay For Licensed, Regulated And Legal Cannabis

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marijuana retail store

via Drug Policy Allliance

There are now two states that permit legal recreational cannabis sales. Those two states of course are Colorado and Washington. Colorado has been authorizing legal recreational cannabis sales since January 1, 2014. Washington started legal recreational cannabis sales on July 8, 2014.

One thing that stands out to long time cannabis consumers are the prices for legal recreational cannabis. On opening day in Colorado, prices climbed as high as $100 for 3.5 grams of cannabis. Prices have since lowered as more supply has hit the market in Colorado. On opening day in Washington, the highest prices I saw were around $25 per gram. Compare those prices to estimated black market prices, which can be as low as $5 per gram in some areas for similar quality product.

A lot of people wondered if the high prices would deter people from purchasing legal recreational cannabis. Fortunately for tax revenue and supporters of the emerging legal cannabis industry, high prices don’t seem to bother customers. One quote I read from Oregonian reporter Noelle Crombie’s Twitter account stated that a guy named Mark Edwards would ‘smoke a bowl for schools any time.’ Noelle Crombie was at Main Street Marijuana in Vancouver, Washington to report on their opening.

While I’d like to see prices lower than $25 per gram, I’m glad that customers see the benefit of supporting legal, regulated cannabis businesses rather than the black market. Supporting legal cannabis retailers supports hardworking Americans, schools, and public safety. When someone buys cannabis on the black market, often times they have no idea who their dollars are going to. How long will customers support prices that are so much higher than the black market? Only time will tell. But for now, prices don’t seem to bother customers, and in the case of Mark Edwards at Main Street Marijuana in Vancouver, he’s glad to pay more.

Source: International Cannabis Business Conference

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About Author

Anthony Johnson is the director of New Approach Oregon, the PAC responsible for Measure 91, that ended cannabis prohibition for all Oregon adults in 2014. In addition to helping organize the International Cannabis Business Conference & the Oregon Medical Marijuana Business Conference, he also serves as a Board Member of the National Cannabis Coalition, working to legalize cannabis across the country and Show-Me Cannabis Regulation, an organization specifically working to end cannabis prohibition in Missouri. As President of the University of Missouri Law School ACLU Chapter, Anthony co-authored the measures that legalized medical cannabis possession and decriminalized personal possession for all adults within the city limits of Columbia, Missouri, in 2004. Following law school, Anthony practiced criminal defense for two years before working full time in the political field to help improve and protect civil liberties. You can follow Anthony on Twitter and also friend him on Facebook by following the links below as he posts mostly about civil liberties and politics with dashes of sports, music, movies and whatnot.

  • Bongstar420

    Hemp is no where near as profitable as tobacco…pot is though

  • Bongstar420

    Bill Gates lives in WA…so do other billionaires.

    WA has a tax code which favors the rich

  • Bongstar420

    No..its because the penalties are not compatible with legalization…You see, legalization affirms that prohibition was wrong the entire time. Some retroactive changes are warranted.

    For instance, I was charged with a class 1 felony distribution and that is not a class 1 felony any more…this charge is especially BS because had licensing been available, I would have been legal.

  • Bongstar420

    Sure..thats why its called dirt weed.

    Grown at scale and cheap as dirt with a similar quality

  • Bongstar420

    This is rich.

    Todays prices are the same as that 1969 $1.79/g with far higher average quality, taxes, and regulations, yet people still gripe about the cost of getting high.

    $1.79 in 1969 = $11.42 in 2016
    http://www.usinflationcalculator.com/

    People were getting ripped off during 60-70’s since getting busted was far less likely than in today’s black market and most pot was barely even consumable.

  • Bongstar420

    So your saying you will sell me $50oz pot that is better than I can do my self eh?

  • Bongstar420

    Cheap pot = Marlboro

  • Bongstar420

    Ideology blinds

  • Bongstar420

    For shame…you can’t get the cheap and easy high you want

  • Bongstar420

    Is that what responsible people do when they can’t afford legal drugs?

    Or is abstinence what a responsible person actually does?

  • Bongstar420

    Sure. But many growers are just management and don’t really do work either.

  • Bongstar420

    And yet people don’t have enough

    :p

  • Bongstar420

    Its only cheaper if your time is worth less

  • Bongstar420

    $$$

    Cannabis will shoot $ their way…from the corporate types that is