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