Countdown to recreational mj sales (Denver, Center: credit card, layoffs, to buy)

[denverian]

Originally Posted by JD401

$578,000,000 Worth Of Marijuana Sales Start in Denver Today - PolicyMic

"Over the next year, Colorado expects $578.1 million in combined wholesale and retail marijuana sales with a generous $67 million in tax revenue. That money will go a long way towards bolstering school construction, which will be funded by a 15% wholesale tax, and regulatory initiatives, funded by a 10% retail levy."

"Medium-quality marijuana costs about $196 an ounce in Colorado, and an expected shortage while supply and distribution channels catch up to new demand may rise prices even higher." >>> Most definitely already has.

"Weed tourism will be making a big impact as well:State authorities expect as much as 30% of the first year's revenue to come from out-of-staters. Timothy Vee, who runs a company called High Life Tours, is even offering a "$99 Napa Valley wine tour, but with marijuana." Toni Fox, who operates the 3D Cannabis Center in Denver, expects her sales to grow from $30,000 a month to over $250,000. "

Hopefully they'll use some of it to fix all the crappy roads/freeways around Denver!

[JD401]

Originally Posted by SkyDog77

How many bootleggers do you know selling moonshine? How's the tobacco black market in the US?

As for the pricing, prices went down considerably from street prices when med was legalized. Even with the tax rate what it is, prices are not at what they were before. The thing you posted showed a guy buying a $30 1/8. From my understanding (which is not 1st hand), that was $50-$60 on the street prior to med.

The other piece I see happening as I stated before is Colorado is likely overbuilding production capacity for the long term because of the incredible short term demand. Once other states open up, Colorado will not have near the demand. When that happens, prices will fall.

The final piece is enforcement. We have a much better enforcement structure to deal with this situation than does Paraguay.

I really do not see many parallels.

How many private tobacco farmers do you know? How strong is the market for moonshine?

I didn't post anything about a $30 1/8 did I? No idea about pre MMJ prices here. I'd take a guess 50 for an 1/8 is no where near accurate, especially before it was of a higher grade thanks to the change.

It's an interesting and possibly problematic possibility. Do I think it will happen here? Not necessarily. The market will correct those prices, or those businesses won't function on the rec MJ side. But when the government gets too heavily involved, and price becomes dictated by policy rather than market, that's a problem.

[JD401]

Originally Posted by Mike from back east

Joe, Thanks for the info.

So shunned.

[SkyDog77]

Originally Posted by JD401

How many private tobacco farmers do you know? How strong is the market for moonshine?

I didn't post anything about a $30 1/8 did I? No idea about pre MMJ prices here. I'd take a guess 50 for an 1/8 is no where near accurate, especially before it was of a higher grade thanks to the change.

It's an interesting and possibly problematic possibility. Do I think it will happen here? Not necessarily. The market will correct those prices, or those businesses won't function on the rec MJ side. But when the government gets too heavily involved, and price becomes dictated by policy rather than market, that's a problem.

Sorry, it was Mike that posted it right above your post. (See below)

I just texted an old friend who owns a dispensary for pricing information. I will let you know what he says, but I am pretty sure that a good 1/8th went for $50 prior to legalization.

As for there not being a market for moonshine, just pretend I said vodka or whiskey...etc. It is easy enough to make that stuff on a large enough scale and sell it cheaper than you get it in a liquor store (think of all the $50-$60 bottles of vodka which is a liquor that doesn't even need to be aged), but no buyers would seek you out when there is a liquor store on the corner where they don't have to worry about being robbed by a criminal or fear being arrested for participating in an illegal transaction. Obviously to have a black market work you have to have both buyers and sellers willing to risk prosecution. When the vast majority of people move in to the legitimate world, it becomes easier to ferret out the illegal operators.

Originally Posted by Mike from back east

Los Angeles Times reports on a 58-year-old retired federal worker who was the first customer at the first retail store to get its license... paying $30 cash for 1/8 ounce of Larry OG, a potent strain connoisseurs like for its euphoric rush. “It’s cool to be part of history,” he said with a grin. He had put his name on a list to be the first customer.... he said he had been waiting 40 years for the moment.

[DurangoJoe]

Colorado black market prices were considerably lower than in western PA where I came from. Back there, you would pay $50 an eighth, $400 an oz. On top of that, you had no idea what you were getting in terms of strain or quality (although I have had some pretty fine ganja back there).

Colorado MMJ prices that I've seen have been $30-$35 an eight and anywhere from $180-$270 an oz. We won't have any retail recreational outlets here in Durango for at least 6-9 months but I'll be curious to see what the retail prices are when they finally open later this year. I'm experienced at hydroponic growing for myself and once I'm in my permanent residence rather than a rental as I am now, I'll decide whether or not it's even worth it to continue to grow. I don't consume that much & the convenience of retail purchase may outweigh the costs & diligence required in growing my stash.

[Mike from back east]

If I heard it right, Tommy Chong is supposed to be at an MJ shop in Pueblo West this week to show his support for legal MJ.

[Mystery123]

Now I feel home in Colorado even though I don't smoke.
Back home, we have Ganja everywhere, even my backyard had a bush.

[jtaustin]

Originally Posted by Mystery123

Now I feel home in Colorado even though I don't smoke.
Back home, we have Ganja everywhere, even my backyard had a bush.

Where is that, the Bahamas?

Looks like $400/oz is what it's going for. Hopefully the prices will go down at some point.

[SkyDog77]

Originally Posted by jtaustin

Where is that, the Bahamas?

Looks like $400/oz is what it's going for. Hopefully the prices will go down at some point.

Well according to the RAND Corporation, legalization should drop prices significantly.....more than enough to make up for a 30% tax.

Legalizing Marijuana in California Would Sharply Lower the Price of the Drug | RAND

[jtaustin]

Originally Posted by SkyDog77

Well according to the RAND Corporation, legalization should drop prices significantly.....more than enough to make up for a 30% tax.

Legalizing Marijuana in California Would Sharply Lower the Price of the Drug | RAND

I still think I need to move to Denver ASAP, and not just because my kid is in school there. What if the cannabis oil would save my life? You know that, for me, is the real issue. I don't want my cancer to come back and I can't wait for Texas to catch up (if it ever does).

Apparently (?) there's some real evidence (?) that THC inhibits tumor growth.