Taxi Medallions: A Better Investment than Gold?

October 23, 2011 in Daily Bulletin

According to the NY Times, this week two New York taxi cab medallions were sold for one million dollars each. Taxi cab medallions are plates that allow drivers to operate a cab inside the city limits, so in a city like New York the medallions can be worth a lot of money as shown. Some of the interesting takeaways from the article are:

  • The return value on the medallions from 30 years ago outperformed the stock market and gold
  • The amount of taxi medallions is occasionally increased, but rarely and by auction
  • When the medallions were first issued, they sold for what would have been $157.50

For that and more you can go to their article.

Source: New York Times