RecordMedallionSale


NYC Taxi medallion sold for record $600,000

var digg_url = 'http://digg.com/business_finance/NYC_Taxi_medallion_sold_for_record_600_000'; Forget the stock market. If you're in the possession of a NYC taxi medallion, you're sitting on a goldmine. A retiring Pakistani driver who'd been driving a cab in New York for the last 25 years sold his medallion Wednesday for a staggering $600,000 -- an all-time record for such a sale. The medallion, which gives cab drivers the right to operate legally in the city, cost $30,000 when it was purchased in 1981. The new owner is a taxi fleet operator ... Read more →

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