10: 35 PM | Updated two New York taxi medallions plate aluminum which gives the right to operate a taxicab yellow-changed hands this week to $ 1 million each, the highest record sales since the modern town started color system.
The sale is the culmination of decades of stunning growth for humble Medal, which is nailed to the hood of any yellow cabs in the city. When New York issued a first batch of medals in 1937, the price is $ 10, or $ 157.50 in dollars today.
Some perspective: the Dow Jones industrial average has increased 1,100 percent in the last 30 years. In the same period, the value of the taxi is up to 1,900 percent medal. Return that beats gold, oil and American homes.