In case you have been living under a rock the last couple of days, marijuana sales are now legal in Colorado. I read about one store serving over 1,000 customers on opening day. As Russ Belville pointed out, "if each customer bought at least an 1/8th for $40 bucks, that's $14,000 in tax revenue generated. Off of one store. In one day." Now imagine when all of the retail outlets open up in Colorado, and Washington, and eventually beyond. That will be a pile of money that is so huge even Kevin Sabet will have to get on board.
Anyone that was following the marijuana sales in Colorado yesterday probably noticed that the reported prices for marijuana sales rose during the day. The first official purchase was by Iraq War veteran Sean Azzariti. His receipt can be seen below:
That's $59.74 for an eighth of Bubba Kush and a truffle, plus tax. As the day went on, I saw numbers go up over $60 for an eighth. People on the West Coast were blown away by that price. Living in Oregon, I used to be blown away by those prices, but now I talk to so many people via the blog in other states and realize that how you feel about the price in of marijuana in one area depends on where you live.
If you live on the West Coast, you can find cheap eighths all day of top shelf marijuana. $20-30 is normal in Oregon where I live, and can even get cheaper if you have the right friends. So looking at Colorado prices can seem crazy. However, go just one state over to Idaho where my cousins live, and their perspective is way different. A $60 eighth of Girl Scout Cookies sounds like an unrealistically great deal to them, and they are making plans to visit to Colorado ASAP.
How do you feel about a $60 eighth? Keep in mind, I've been to Colorado, and they have some of the best of the best. I know when I'm far from home, I don't have a problem paying a premium price for premium marijuana. Or in very desperate times, even a premium price for medium marijuana. I remember one time when I was in Vegas and was on day four of no weed I bought half a gram for $20 of some solid Kush and was stoked to have it! It all just depends on the scenario I suppose.