MIAMI -- About 11,500 pounds of cocaine and 17,000 pounds of marijuana were offloaded at Port Everglades Thursday morning from the U.S. Coast Guard Cutter Hamilton, according to the Coast Guard's Seventh District Southeast.
The drugs were seized from operations in the Eastern Pacific Ocean and the Caribbean Sea. The Coast Guard puts the value at $228 million, a wholesale number.
As for what that means on a Miami street in cash, 11,500 pounds is 5,227 kilograms. A DEA agent talking to the South Florida Sun Sentinel in 2017 put the per gram price at $50 to $80, which means a kilo goes for at least $50,000. That puts the cocaine's Miami street value at, minimum, $261,350,000.
As for the marijuana, 609 contributors to priceofweed.com says medium quality goes for $234.05 per ounce in Fort Lauderdale. The marijuana street value of $63,661,600 with the cocaine makes what was offloaded worth at least $325,011,500.
This article is written by David J. Neal from Miami Herald and was legally licensed via the Tribune Content Agency through the Industry Dive publisher network. Please direct all licensing questions to email@example.com.