Colorado’s average price of a pound of wholesale marijuana grows for fourth straight quarter
At $999 per pound, state-set average hits highest point since April 2018
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Like a hiker with a fourteener fix, the price of wholesale pot just keeps climbing in Colorado, according to the state statistics.
Between May 1 and July 31, the average price of a pound of dried marijuana sold wholesale to stores hit $999, according to the Colorado Department of Revenue. That’s a nearly $150 jump over the $850 average the state recorded in July.
The $999 average market rate price, a figure used by the state when assessing its 15% excise tax on retail marijuana sales and transfers, takes effect Oct. 1. It marks the fourth straight three-month reporting period during which the cost of bud rose. In October 2018, a pound was going for $759 on average.
The average cost of buds destined to be turned into extract products also rose during the reporting period, hitting $254, up from $227. Whole undried plants rose to $173 per pound from $152 and average seed costs rose to $5 each from $4. The prices of wholesale trim and immature plants were flat at $325 per pound and $8 apiece respectively.
- December 21, 2018 Colorado sees average price of wholesale marijuana rise in second half of 2018
- December 29, 2018 VIDEOS: Understanding where Colorado’s marijuana money goes
- August 6, 2019 More of the legal marijuana sold in Colorado is increasingly for recreational use
The record average price per pound of wholesale bud was set in January 2015 at $2,007, state data shows. The last time the average price per pound was over $1,000 was in April of last year.
Between May 1 and July 31, the average price of a pound of dried marijuana sold or transferred from a commercial grow operation in Colorado hit $999.
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How Many Grams is in a Pound of Weed?
If you’ve ever purchased cannabis from our Spokane location before, then it’s highly likely you’re aware of the fact that the quantity determines the price. The strain matters, of course, but when you’re working with one strain, there will be multiple price options depending on how much weed you want to buy.
Say, for example, that you walk into a dispensary excited to buy flowers, but you can’t decide if you’d rather stick with an eighth or go big and purchase an entire ounce of weed instead. Usually, the determining factor between whether you pick up an eighth or you buy the whole ounce is the price point.
On average, flowers can cost anywhere between twenty and one hundred sixty dollars, though there are cases where the price falls outside of this median range. But no matter what, as a consumer, understanding measurements as they pertain to weed is incredibly important.
Now, most people who walk into a dispensary are looking to buy no more than an ounce of weed. In fact, you technically cannot purchase more than 28 grams of flower in one trip in the state of Washington. However, grams and ounces are not the only two ways by which cannabis is measured .
See, you might be wondering why you would ever need to know how many grams is in a pound of weed. The everyday cannabis user does not necessarily need to know the answer to this question, but for people who work in the cannabis industry, knowing how many grams is in a pound of weed is essential.
Ounces and grams are units of measurement that sound so minuscule compared to the larger-scale measurements that industry workers are used to handling. But pounds are more relative to weed than you may think!
The pound is a mighty helpful unit of measurement to utilize when working with cannabis in high volumes. Essentially, knowing how many grams of weed are in a pound will help dispensary owners and inventory specialists to better understand what is in stock, as well as what needs to be ordered next.
So, exactly how many grams are in a pound of weed? And how do you now that a shipment of one pound of weed really does contain one pound of weed? We’ll help you become more educated on the answers to these questions.
Let’s start out by defining pounds as a unit of measurement, and then we’ll go from there!
Measurement Conversions: How Many Grams are in a Pound of Weed?
In order to know how many grams are in a pound, it helps to understand what constitutes a pound and what is considered a gram. Let’s define these two units of measurement before explaining exactly how many grams of weed are in a pound of weed.
Measurements 101: What is a Pound?
A pound is equal to sixteen ounces. Often referenced in shorthand, the pound is abbreviated as lb .
The pound is a unit of measurement only used in the imperial system of measuring. The United States is the one and only country that still abides by the imperial system, with all other parts of the world opting for the metric system instead.
Defining Grams: What is a Gram?
Grams do not exist within the same unit of measurement as pounds. Remember how we mentioned that pounds are part of the imperial system of measurement? Well, a gram is part of the metric system.
Grams make up kilograms. To be exact, there are one thousand grams in a kilogram. But a simpler way of approaching the situation is by forgoing kilograms altogether and instead focusing on ounces.
You can start by figuring out how many grams are in an ounce. For reference, there are 28.3495 grams in an ounce.
How Many Grams of Weed are in a Pound?
Now, let’s review what we know. First, there are sixteen ounces in one pound. Also, there are 28.3495 grams in an ounce.
Say we have one pound of weed. That’s sixteen ounces. If one ounce is the same as 28.3495 grams, then sixteen ounces is the same as 453.592 grams. So, there are 453.592 grams in one pound of weed.
Alternative Ways of Describing Grams in a Pound of Weed
Like we touched on earlier, weed is not always purchased in one-pound increments. Rather, cannabis is sold as ounces, eighths, quarters, and halves of a pound. If you divide up a pound of weed into one-ounce packages, then you would be able to sell an ounce to 16 people.
Looking at eighths, there are 128 eighths in a pound of weed. In terms of quarters, a pound of weed can be divided into 64 quarters, and if you divide the number of quarters in half, you’ll see that there are 32 halves of weed in a pound.
To recap, in one pound of weed, there are…
- 16 ounces
- 32 halves
- 64 quarters
- 128 eighths
Exact Measurements of Weeds vs Rounding to the Nearest Whole Number
When it comes to weighing cannabis , it doesn’t necessarily hurt to round up your measurements to the nearest whole number. For example, instead of calculating with one ounce being the equivalent of 28.3495 grams, you can round the value to 28.
The decimals are so minuscule in the grand scheme of everything, but if you prefer measuring to the exact decimal point, then… By all means, do so! Your calculations will be more accurate, and that can only help you in the long run.
Rounding only becomes rather questionable when entire digits are off. Let’s say you pay for two pounds of weed but you come to find out that you were given 905 grams of weed.
Since one pound is the same as 453.592 grams, you should have received 907.184 grams of cannabis. This means you were shorted 2.184 grams, which is a significant amount of weed to pay for without receiving. Even if you were only missing 0.05 grams of weed, that is still less than you paid for, and you deserve to partake in a fair transaction.
How to Make Sure a Pound of Weed is Accurately Weighed
Now that you know how many grams a pound of weed contains, you might be wondering how to make sure that a pound is actually a pound. This is not to say that sellers or dispensaries are not trustworthy, but as a buyer, it’s wise to double check that you are getting exactly what you have paid for.
The only tried and true method of making sure you have a pound of weed on your hands is by weighing the cannabis. A scale will be able to measure your weed with ease. If you don’t own a scale, do not feel as though you need to go out and purchase anything fancy.
Even the most simplistic of food portion scales will do the trick, and those are not expensive by any means! There’s no need for a fancy scale with top-tier calibration abilities or high-end technology.
In fact, scales intended for weighing items of smaller volumes are better than scales meant for finding the weight of items on a larger scale. It makes finding an exact measurement far easier because the measurements will be more precise.
Most scales of this nature have an option to change the unit of measurement, so first make sure that the scale is set to the appropriate unit of measurement. In this case, you want a scale to tell you the weight in grams.
There is an option to weigh items in terms of pounds, but we recommend grams instead. Before you place the weed onto a scale, tare the scale so that your starting point is zero grams.
The Importance of Understanding Just How Many Grams a Pound of Weed Contains
There is more to knowing how many grams are in a pound of weed than meets the eye. Having this knowledge is part of being a well informed customer, and you will also be able to advocate for yourself if you realize you’re not receiving the quantity that you are paying for.
Being able to convert from pounds to grams is an impressive talent. Not everyone has the ability to perform basic conversions, but if you regularly purchase weed, you owe it to yourself to be informed!
There is more to knowing how many grams are in a pound of weed than meets the eye. Having this knowledge will allow you to protect yourself transactionally, but also legally.
Understanding how to convert from grams to pounds, and vice versa, is a tool that transcends making sure you are receiving what you paid for. Legally, there is a limit to how much weed you can have on your person at any given time.
If you don’t understand conversion rates or units of measurement as they relate to cannabis, then you might end up carrying more weed than the legal limitations allow. This can cause serious repercussions for you, and it would be brutal to face charges for something that was a genuine accident.
Always make sure you know the exact weight of your weed. Whether you’re weighing in grams or you’re more concerned with weed in pounds, it’s important to be aware of the quantity of weed. And now that you know how many grams is in a pound of weed, you can use this information going forward!
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If you've ever purchased cannabis from our Spokane location before, then it's highly likely you're aware of the fact that the quantity determines the price.