Originally Posted by blenderm
Teachers has always claimed that it is 45% malt blend [I think it's on the label] but I do remember being told a coupleof years ago of a new style Teachers called Origin that had more than 65% malt. It's possible that they've mixed up the comments about these style on their website
You're right Blenderm. Their web site still lists the THC at 45% and the Origin at 65%
It's cheap because it's a blend and other grain spirit is aparently cheaper to manufacture, and it's not very old. Less time in a barrel is cheaper and there's less lost to the angels share.
I think compass box Great King Street may be even more. If I recall correctly it's 70 or 75% malt. At that point I think you're using the grain to modulate the flavor profile rather than save some coin.