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California
A E S T H E T I C S A T A N


Registered: 12/27/04
Posts: 72,118
Loc: H A U N T E D H O U S E
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High demand for legal pot overwhelms supply in Colorado 1
#19389943 - 01/08/14 06:40 PM (10 years, 1 month ago) |
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Denver's 3D Cannabis Center owner Toni Fox thought she had enough marijuana to last through February when she opened her doors Jan. 1 for recreational pot sales.
Then she served 450 customers Jan. 1 and turned away 60. She planned to close for two days this week, she said, to re-evaluate her supply.
She had been serving 25 clients a day for the past three years while her store was restricted to medical marijuana sales, she said.
"We are going to run out," she predicted Thursday, the second day of legal marijuana sales for recreational use. "It's insane."
Fox said she had a harvest ready to be trimmed. And she will hire temporary staffers from Hemp Temps, a Denver-based staffing company that specializes in growing, trimming and bud-tending.
But she guessed the supply shortage is the same at all of Denver's 18 stores and Pueblo's two stores that opened last week with long lines of customers -- more than half from out of the state -- waiting one or two hours to make history by ending marijuana prohibition.
Now, she said, marijuana store owners will all be scrambling to find wholesale distributors, especially on marijuana-infused products like edibles and beverages. But she's not complaining.
"It's awesome," she said. "I wish more stores could have opened."
Under Colorado's Amendment 64, people 21 and older can possess up to an ounce of pot. And last legislative session, lawmakers hammered out the details of marijuana regulation that covered everything from packaging and labeling to background checks for business owners and a complex licensing process.
The National Cannabis Industry is projecting $400 million in sales in 2014.
Not all Colorado cities are taking part in the rush. The Colorado Springs City Council voted 5-4 in July to opt out of sales, despite the city's voters approving Amendment 64.
There is no telling how much Colorado Springs is losing in sales tax revenue from pot sales for recreational use, said Tom Binnings, an economist with Colorado Springs-based Summit Economics.
"It's a challenge for an economist to study any new market that has not existed before," Binnings said. "It's a wonderful market experiment. It will provide interesting data for researchers in the future to look at what happens when a market that is illegal and becomes legal."
Mark Slaugh, owner of iComply, which helps marijuana store owners stay in compliance with state regulations, said Colorado Springs is missing a great money-making opportunity.
Slaugh estimated demand for recreational pot would be three to four times that of medical marijuana. But considering the lines last week at Denver and Pueblo stores, demand could be five times as much, he said.
About 21 percent in state and local taxes is charged on the sale of recreational dope, said Amber Miller, a spokeswoman for the City and County of Denver.
At Medicine Man Denver, a shop that began selling marijuana for recreational use last week, customers were charged $45 for an eighth of an ounce of recreational pot, compared with $25 for an identical amount that he sells for medical purposes, said Andy Williams, the president and chief executive officer.
"They're not used to coming into a facility and paying $25 an eighth, so when they come in, it's just whatever the price is," Williams said. "Having the ability to buy safe, reliable, quality marijuana in an environment that's fun and exciting sure beats going in a back alley and saying, 'Hey buddy, you got a bag?' "
The retail price of marijuana in Colorado has doubled since Jan. 1, when the state became the first to legalize sales to anyone 21 and older. Pot for recreational use sells for an average of $400 an ounce, compared with $200 an ounce that Colorado retailers collect for medical marijuana, said Aaron Smith, executive director of the National Cannabis Industry Association, a Washington-based trade group.
"That's just supply and demand," Smith said. "As more businesses open and the businesses get a sense of what the demand is and are able to meet it, the prices will go back down."
Bloomberg News reports were used in this story.
http://www.twincities.com/business/ci_24865117/high-demand-legal-pot-hurts-supplies-colorado?source=rss
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IoRhinz



Registered: 04/19/13
Posts: 119
Last seen: 8 months, 7 days
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Re: High demand for legal pot overwhelms supply in Colorado [Re: California]
#19390270 - 01/08/14 07:54 PM (10 years, 1 month ago) |
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And in other news, fast food restaurant revenue has dramatically increased in Colorado. Coincidence? I think not.
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Avernus
Avy


Registered: 07/02/13
Posts: 15
Loc: WA
Last seen: 9 years, 8 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: IoRhinz]
#19390369 - 01/08/14 08:12 PM (10 years, 1 month ago) |
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$400 an oz?!
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+ = You can call me Avy. I'm mostly nice.
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Deathcore
Stranger


Registered: 06/08/13
Posts: 1,934
Last seen: 4 years, 2 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Avernus]
#19390380 - 01/08/14 08:14 PM (10 years, 1 month ago) |
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rip off
told u guys..rip off
i can get one for $325 high grade
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psilynut
aka Patchraper

Registered: 10/22/09
Posts: 1,244
Last seen: 6 years, 10 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: IoRhinz]
#19390411 - 01/08/14 08:20 PM (10 years, 1 month ago) |
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400 dollars an ounce average price? So good shit costs more than that? Fuck me. The fact that every plant needs a tag from state and it can't be sold in every county is probably going to keep the price high. Looks like semi legal weed is where it's at. I can get a really decent ounce off craigslist here in Cali for 125 or 150 and super dope out of a club for for around 280.
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PurpleHaze147



Registered: 04/09/13
Posts: 657
Last seen: 6 years, 3 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: psilynut]
#19391133 - 01/08/14 11:09 PM (10 years, 1 month ago) |
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Quote:
psilynut said: 400 dollars an ounce average price? So good shit costs more than that? Fuck me. The fact that every plant needs a tag from state and it can't be sold in every county is probably going to keep the price high. Looks like semi legal weed is where it's at. I can get a really decent ounce off craigslist here in Cali for 125 or 150 and super dope out of a club for for around 280.
I bet that probably is the good shit. Why would they even bother selling mids they probably just sell top quality strains grown in optimal conditions since its legal now. But still $400 an oz for legal weed is ridiculous.
In NJ I can get an oz of the best quality, "fire", for about $350 and east coast prices r higher than the rest of the country, a $10 dime in NJ is only .4g average and I know I'm not getting ripped off everyone pays that price here; $10 .4g dimes, $20 .8g dubs, and $60 8ths its crazy.
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Deathcore
Stranger


Registered: 06/08/13
Posts: 1,934
Last seen: 4 years, 2 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: PurpleHaze147]
#19391169 - 01/08/14 11:17 PM (10 years, 1 month ago) |
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I'm from Pittsburgh
2g dimes 4g dubs $325 oz "fire"
$20/g "fire"
Glad i don't smoke often
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taterdb



Registered: 07/07/10
Posts: 157
Loc: rocky mountain high
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Re: High demand for legal pot overwhelms supply in Colorado [Re: PurpleHaze147]
#19391298 - 01/08/14 11:54 PM (10 years, 1 month ago) |
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Quote:
PurpleHaze147 said:
Quote:
psilynut said: 400 dollars an ounce average price? So good shit costs more than that? Fuck me. The fact that every plant needs a tag from state and it can't be sold in every county is probably going to keep the price high. Looks like semi legal weed is where it's at. I can get a really decent ounce off craigslist here in Cali for 125 or 150 and super dope out of a club for for around 280.
I bet that probably is the good shit. Why would they even bother selling mids they probably just sell top quality strains grown in optimal conditions since its legal now. But still $400 an oz for legal weed is ridiculous.
In NJ I can get an oz of the best quality, "fire", for about $350 and east coast prices r higher than the rest of the country, a $10 dime in NJ is only .4g average and I know I'm not getting ripped off everyone pays that price here; $10 .4g dimes, $20 .8g dubs, and $60 8ths its crazy.
Haven't been to the stores yet, however 400 is well above what the market value in Colorado was just a few weeks ago, and for 400 it had better be unbelievably good. The last stuff I got was about 260 and it was extremely good, it was not my cheapest option. This spike in prices is just temporary and I'm sure things will go back to normal as soon as production can catch up, and the novelty wears off. That said while I haven't asked around much since the 1st, I highly doubt anyone who has a connection outside the shops is paying that much, which is most locals. Like the article above says, the people that are going to the shops at this point are mostly from out of state.
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Fractal420
Psycellium



Registered: 06/21/13
Posts: 5,913
Last seen: 9 months, 9 days
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Re: High demand for legal pot overwhelms supply in Colorado [Re: taterdb]
#19392230 - 01/09/14 05:16 AM (10 years, 1 month ago) |
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I've always noticed a pretty sizable difference in the potency of street vs proper medical cannabis. I have family in LA and also in NY, and there's a huge difference. Most of the stuff i see in LA is medicinal and you don't need a microscope to see the high times-esque crystals. In NY, stuff like that costs like 450, especially if you're in manhattan using delivery services (also very good, but insane prices). On the west coast i tend to be able to find REAL fire for like 180 an ounce. You can barely get a half in New York for that amount, and even the fire isn't as insane as the stuff I find around Hollywood. But California doesn't allow spores, so both have their up/downside. California also has its own state-level analog act.
I'm just hoping for the cannabis rush to really spread eastward
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Aopocetx
Writer



Registered: 03/20/06
Posts: 2,421
Last seen: 4 years, 1 month
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Fractal420]
#19392340 - 01/09/14 05:54 AM (10 years, 1 month ago) |
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Background checks for selling weed?! Are you fucking joking??? What am I supposed to fucking do as a felon? I guess they want me to sell crack so I get locked up and sent away for good... man FUCK the United States government. I made mistakes when I was a LOT dumber and now I can't do shit to support my family! I get tired of this shit!! I see why people snap now (not saying I'm gonna snap)...
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esquaredx



Registered: 10/24/09
Posts: 1,497
Loc: Dutch Country
Last seen: 2 years, 4 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Aopocetx]
#19392374 - 01/09/14 06:06 AM (10 years, 1 month ago) |
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That is kinda crazy about the background check stuff. I can understand why some places would want a background check before employment, but it can be hard getting a full out labor job in my area with them. I spray painted and have felonies now, its not fun at all.
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Learyfan
It's the psychedelic movement!



Registered: 04/20/01
Posts: 34,134
Loc: High pride!
Last seen: 1 hour, 33 minutes
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Deathcore]
#19392440 - 01/09/14 06:37 AM (10 years, 1 month ago) |
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Quote:
Deathcore said: rip off told u guys..rip off i can get one for $325 high grade
Small price to pay to not potentially get arrested, which will cost you a lot of money and probably your job and which will stamp a permanent black mark on your record, which disqualifies you from many job opportunities in the future, which costs you an untold amount of money over time.
Unless you're living in Colorado and getting it for $325. Then I say you're right.
-------------------- -------------------------------- Mp3 of the month: The Fe-Fi-Four Plus 2 - I Wanna Come Back (From the World of LSD)
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36fuckin5
Alchemycologist


Registered: 08/11/03
Posts: 12,081
Loc: Diving into Mystical Territori...
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Re: High demand for legal pot overwhelms supply in Colorado [Re: California]
#19393379 - 01/09/14 11:50 AM (10 years, 1 month ago) |
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Quote:
Oregon said: "It's a challenge for an economist to study any new market that has not existed before," Binnings said. "It's a wonderful market experiment. It will provide interesting data for researchers in the future to look at what happens when a market that is illegal and becomes legal."
The market for pot has existed for way longer than it hasn't. Treat it like any other good.
-------------------- Redd Foxx said: If you're offended I don't give a shit and don't come see me no more. Pat The Bunny said: A punk rock song won't ever change the world, but I can tell you about a couple that changed me. bodhisatta said: i recommend common sense and figuring it out. These are the TEKs I use. They're all as cheap and easy as possible, just like your mom.
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Beanhead
IS IRONIC PARADOX


Registered: 10/11/08
Posts: 17,257
Loc: Geospatial inversion.
Last seen: 3 years, 6 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: 36fuckin5]
#19393447 - 01/09/14 12:11 PM (10 years, 1 month ago) |
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Quote:
36fuckin5 said:
Quote:
Oregon said: "It's a challenge for an economist to study any new market that has not existed before," Binnings said. "It's a wonderful market experiment. It will provide interesting data for researchers in the future to look at what happens when a market that is illegal and becomes legal."
The market for pot has existed for way longer than it hasn't. Treat it like any other good.
When my brother was young 200 bef (5€) would buy him several joints.
Several years ago i'd buy average weed in coffeeshops for 5-7 and good weed 10-12 per gram
Now I pay 8-10 for average weed and 10-15+ for good weed.
That's euros not dollars, combine that with the 5g limit + the drive it costs me around 70-80€ per 5grams.
Roughly calculated it's 14dollar per gram for you guys which comes down to 10€ per gram.
Reasonable price, still too much for a plant.
Over here we just all throw some money together and get 100g, coffeeshops we just visit from time to time for a sort of "sweettooth" when it comes to MJ... Have a taste of majesty! (comes at a price ; )
Edited by Beanhead (01/09/14 12:16 PM)
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NetDiver
Wandering Mindfuck


Registered: 08/24/09
Posts: 6,024
Loc: Everywhere and Nowhere
Last seen: 1 year, 7 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Deathcore] 2
#19398960 - 01/10/14 01:01 PM (10 years, 1 month ago) |
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Quote:
Deathcore said: rip off
told u guys..rip off
i can get one for $325 high grade
No one cares.
Keeping prices low is the stupidest reason ever to be against legalizing marijuana. There's more to consider than just cost. What about the risk of being arrested and tossed in a cage for possessing a plant?
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Deathcore
Stranger


Registered: 06/08/13
Posts: 1,934
Last seen: 4 years, 2 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: NetDiver]
#19399081 - 01/10/14 01:24 PM (10 years, 1 month ago) |
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I can get dank anytime I want and the odds of getting caught are slim. I know the growers, dealers, and I never come close to getting caught and No cop could catch me if they tried. Sure..my dealers could get pinched but I got so many and many more arise.
Whatever you say....
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36fuckin5
Alchemycologist


Registered: 08/11/03
Posts: 12,081
Loc: Diving into Mystical Territori...
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Deathcore] 4
#19403710 - 01/11/14 12:48 PM (10 years, 1 month ago) |
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Quote:
Deathcore said: No cop could catch me if they tried. Sure..my dealers could get pinched but I got so many and many more arise.
Whatever you say....
This is the attitude of someone who will spend a lot of time in jail.
-------------------- Redd Foxx said: If you're offended I don't give a shit and don't come see me no more. Pat The Bunny said: A punk rock song won't ever change the world, but I can tell you about a couple that changed me. bodhisatta said: i recommend common sense and figuring it out. These are the TEKs I use. They're all as cheap and easy as possible, just like your mom.
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Maharishi_2_U
Opt Out Super Fag


Registered: 10/21/09
Posts: 6,316
Loc: The Streets
Last seen: 8 years, 11 months
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Re: High demand for legal pot overwhelms supply in Colorado [Re: 36fuckin5] 1
#19403739 - 01/11/14 12:56 PM (10 years, 1 month ago) |
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Quote:
36fuckin5 said:
Quote:
Deathcore said: No cop could catch me if they tried. Sure..my dealers could get pinched but I got so many and many more arise.
Whatever you say....
This is the attitude of someone who will spend a lot of time in jail.
QFT
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Fractal420
Psycellium



Registered: 06/21/13
Posts: 5,913
Last seen: 9 months, 9 days
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Maharishi_2_U]
#19434192 - 01/17/14 05:21 PM (10 years, 1 month ago) |
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Quote:
Maharishi_2_U said:
Quote:
36fuckin5 said:
Quote:
Deathcore said: No cop could catch me if they tried. Sure..my dealers could get pinched but I got so many and many more arise.
Whatever you say....
This is the attitude of someone who will spend a lot of time in jail.
QFT
Also perhaps of a 15 year old with invincibility complex. Why do you think your dealers get pinched? Rhetorical question. Andddd it might not be the best idea to write about being a drug kingpin on the largest mushy cultivation forum on the net. Your IP has been logged :P
Oh..shit.
Edited by Fractal420 (01/17/14 05:24 PM)
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indocult
Dr


Registered: 07/12/09
Posts: 1,395
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Re: High demand for legal pot overwhelms supply in Colorado [Re: Fractal420]
#19434547 - 01/17/14 06:44 PM (10 years, 1 month ago) |
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aweohyou:
"No cop will catch me"
I used to have that same disorder... then my ex roomie snitched on me.
Yes you can talk all day on here, I wouldn't worry about that but this "Invincibility" will get you to drop your guard.
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