Unbelievable!
“The situation quickly grew out of control, with the cost of medallions ballooning past a million dollars.
Unbelievable!”
Not really.
Fishing licenses in Alaska cost millions of dollars due to the limited supply.
In Montana there are only so many ‘all spirits’ liquor licenses and also a limited number of ‘beer and wine’ licenses. The MAJORITY of these licenses are fixed to a town or city. A very, very few can be moved throughout the state. Towns like Ringling or Two Dot don’t have much of an issue, but my town - Bozeman - has $1,000,000+ ‘all spirit’ licenses and $500,000 ‘beer and wine’ licenses.
Government regulation increases prices.