Whether you are a beginner or a seasoned stoner looking to re-acquaint yourself with the latest weed stats, you need to be always aware of the latest weed measurements and market prices. Being aware of some simple numbers when buying or weighing out pounds of weed can save you a great deal of money in the end.
So, how much is a pound of weed worth? This article offers you a comprehensive price guide for buying weed.
How Much Is a Pound of Weed?
Currently, one pound of weed in legalized states costs between $1,500 and $2,000, while in states where weed has not been legalized the price of one pound of weed ranges from $3,000 to $4,000. Most stoners in the United States prefer to buy their weed in large amounts because it is cheaper and saves them time.
When you buy your weed in bulk, you won’t have to make regular trips to the dispensary for replenishment that can consume a lot of your time. However, it is important to mention that some states, such as California and Colorado have restrictions on the amount of weed you can buy in a single visit to the dispensary. For instance, in the two states, you can only buy one ounce of weed from one visit.
Therefore, it is also important to learn how much an ounce of weed weighs, how many grams it contains, and its current price range. On the MKS system, a pound of weed is equivalent to 453.59 grams. Also, if you want to buy your weed in bulk in California or Colorado, you have to get it from the wholesalers.
Unfortunately, some wholesalers will only agree to sell you weed in bulk if you have a retail store. It is also important to note that the black market for cannabis in the US is also flourishing, mainly due to the strict restrictions imposed on licensed weed sellers by the government.
In the black market, one pound of weed is currently costing between $2,000 and $4,000. It is also important to mention that it is not illegal to consume smoke weed in many US states, including California and Colorado.
5 Factors That Influence the Price of Weed
1. Supply and Demand
The ongoing legalization of the sale and use of marijuana in different states in the US has led to a steady rise in its demand. This has also led to an increase in its prices because more people are buying it for medical and recreational purposes. It is also important to note that the legalization of marijuana in the US has led to an increase in its production, forcing many sellers to lower their prices.
If there are many weed dispensaries, wholesalers, and retailers in your area, it means that they have to cut down their prices to beat the stiff competition. This may work in your favor, especially if you buy your weed in bulk or you use weed for medical reasons.
On the other hand, if you only have one or two weed dispensaries or retail shops, the prices will likely be high because there is less competition. Lack of competition also means that weed in this area is a comparatively short-supply commodity, forcing the sellers to charge more.
3. Marijuana Taxes
Since 2012, when some states in the US started to legalize the sale and use of marijuana, the federal governments in these states have been collecting taxes and other fees for the weed. For instance, Colorado state has been charging 2.9 percent of the tax rate for regular marijuana and 10 percent for special marijuana.
The situation is virtually the same in many other states. Unfortunately, these taxes continue to push the price of weed even higher, with some states charging as high as 9.45 percent taxes.
4. Type and Quality
Just as the quality of clothes and other designer products influences their prices, the quality and type of weed you purchase will determine its cost. The seller will also take into consideration the amount of THC present in the weed as well as the method of production used to prepare it. Also, the terpene levels in the weed will influence its price. All these conditions determine the quality of the weed.
5. Black Market
Since the black market was, previously, the only method by which people obtained marijuana in the United States, it still has a major influence on the cost of the weed. Weed sellers in the black market usually undercut the price of legal marijuana dispensaries that tend to price their products too high.
Where to Buy Weed
While it’s legal to sell or use marijuana for both medical and recreational purposes in the US, you can’t just wake up one day and set up a marijuana shop or simply decide to own or operate a business in the marijuana supply chain.
You have to get a marijuana business license, which is rarely easy or cheap. It’s also important to understand that cannabis business licensing laws and operational laws vary from state to state, and you have to understand them thoroughly if you want to get a license.
In the past, people relied on the black market for their weed supply, but with the ongoing legalization of marijuana in America, there are many places where you can buy legal weed. As mentioned above, the main types of businesses allowed to sell weed include dispensaries, retail, and wholesale stores.
The process of legalizing marijuana started in Colorado in 2012 on election day when the state approved a ballot initiative decriminalizing the recreational use and sale of marijuana. Over the next nine years, eighteen other states, including Washington, D.C., went on to legalize the drug.
Currently, the support for the legalization of marijuana in America has become mainstream, especially among the Democrats, with some politicians even introducing marijuana-related bills in Congress to decriminalize the drug on the federal level.
The states that have legalized the sale and use of recreational marijuana include:
• Washington, D.C.
• New Jersey
• South Dakota
• New York
• New Mexico
It is also important to note that retail sale of marijuana from dispensaries is allowed in all states where the drug has been legalized except for Vermont because it doesn’t give marijuana business licenses to retailers. But the state is expected to start issuing retail licenses for the sale of the drug in October 2022.