Expensive Fare: Pair of NY Taxi Medallions Sell for $1 Million Apiece

October 21, 2011 Updated Oct 21, 2011 at 2:18 PM EDT

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Expensive Fare: Pair of NY Taxi Medallions Sell for $1 Million Apiece

October 21, 2011 Updated Oct 21, 2011 at 2:18 PM EDT

Talk about an expensive cab fare.

According to a story in the New York Times, a pair of New York City taxi medallions were sold for $1 million each this week. The Times story said it is the highest sale price for a taxi medallion under the city's livery system.

Read the New York Times story HERE.