2 NYC Taxi Medallions Sell For $1 Million Each

NEW YORK (CBSNewYork) — If you thought the cost of a New York City cab fare was high, you’ll never believe what is costs to buy a medallion.

Two taxi medallions have just been sold for $1 million each, making it the highest price on record since the city began issuing them back in 1937. Back then, the going rate for a medallion was about $10,000.

Medallions are aluminum plates that give companies or cab owners to operate a yellow cab.  In the 1980’s, medallions sold for about $80,000.

There are just over 13,000 medallions in New York City.

Comments

One Comment

  1. Meme Meyagi says:

    what is done about 7 million mooslime terrorists living in usa?

  2. Stevie Cohen says:

    technically, the medallion is cheap…the car takes in 1400-1500 a week in leases x 52 weeks.. thats around 65-70k. With tips, the car is paid for in 10 years.. You now have a million dollar business……Use your head jackasses.. Sounds like a good investment to me..

  3. goblin says:

    A “Medallion” to drive a cab is the biggest crock of garbage out there.

  4. I HATE ezPass Toll Hikes $12, its a shame says:

    DON’T WORRY AIR IS GOING TO COME OUT OF THE BALLOON, SAME AS IT CAME OUT OF THE HOUSING MARKET, ALWAYS REMEMBER
    ANYTHING GOES UP MUST COME down………

  5. Daniel Acevedo says:

    FIRST

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