[www.nypost.com]


It's the easiest way to turn aluminum into gold.

The value of a city taxi medallion has hit an all-time high -- with the permits now carrying a $609,000 price tag.



Read more: [www.nypost.com]



Edited 2 time(s). Last edit at 02/27/2012 12:30PM by askanewyorker.

Deflation


NYC taxi medallions hit $766,000
Updated 8/7/2009

A coveted taxicab medallion from the New York City Taxi & Limousine Commission.

A taxi zooms down a New York City street in this 2004 photo. Medallions authorizing a taxi business are getting more expensive all the time.


By Taylor McGraw, USA TODAY
NEW YORK — As Wall Street still wobbles under the pressure of a weak economy, one New York asset class stands firmly on all four wheels. Taxi medallions — required licenses fastened to the hoods of all New York City yellow cabs — have rocketed in value at a time when many investments have plummeted. The average rate in July for a corporate-licensed taxi medallion in the Big Apple was a record $766,000 — up 126% from $339,000 in 2004.





[www.usatoday.com]



Edited 1 time(s). Last edit at 09/07/2010 03:21PM by askanewyorker.

Two New York taxi medallions — aluminum plates that grant the right to operate a yellow cab — changed hands this week for $1 million apiece, the highest recorded sale since the city’s modern livery system began.



[cityroom.blogs.nytimes.com]



Edited 1 time(s). Last edit at 02/27/2012 12:31PM by askanewyorker.

They’re better than gold and stronger than steel. 1.2 million$$$$$$

The market for New York City taxi medallions — which have outpaced gold and home values in the past 30 years — should remain bullish despite an upcoming addition of 2,000 yellow cabs, a new report found.

[www.nypost.com]



Edited 3 time(s). Last edit at 06/03/2012 10:30AM by askanewyorker.