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Price Of Weed Explodes In Colorado

Francesca Bessey |
January 5, 2014 | 12:11 p.m. PST

Executive Producer

What if Colorado ran out of weed? (rafael-castillo, Creative Commons)
What if Colorado ran out of weed? (rafael-castillo, Creative Commons)
Recreational use of marijuana may now be legal in Colorado—but the once-criminal pastime sure ain't cheap.

Approximately 30 dispensaries sold recreational weed on New Year's Day, taking advantage of the stoner cheer to sell large quantities of marijuana at a high price. Pot smokers across the state lined up for as much as five hours to buy an eighth of an ounce—normally priced as low as $25—for as much as $70, after taxes. 

Prices were also increased by the new 25 percent tax, approved by voters as part of legalization in November: 15 percent excise and 10 percent sales. The marijuana market is expected to generate nearly $70 million worth of tax revenue for Colorado in 2014.

SEE ALSO: Marijuana Support At Record High

Many pot shops claimed to have raised prices simply to maintain enough marijuana to meet demand. Some even enforced a purchasing cap of one-eighth ounce per customer, to prevent a possible shortage of weed.

Standing in line for five hours to buy a limited quantity of marijuana at close to three times the price? 

Justice can be bittersweet.


Read the full story at Huffington Post.

Reach Executive Producer Francesca Bessey here; follow her here.



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