taxi medallions
Urban cab permits
Taxi medallions are government-issued permits that authorize a vehicle to operate as a taxi in regulated markets.
They are often physical plaques affixed to the hood of the car.
Medallions became prominent in the 1930s as cities sought to control the number of taxis and reduce congestion.
Their value fluctuates based on market demand, sometimes reaching hundreds of thousands of dollars, making them a speculative asset.
Medallion systems are typically overseen by local transportation authorities, such as the Public Carriage Office in London or the DMV in U.S. cities.
The driver couldn’t operate without a valid taxi medallion.
- licenseFormal grant of permission
- permitOfficial written authorization
- valuationAssessment of monetary worth
- asset valueWhat property fetches
- cabVehicle for hire
New York City · auction · depreciation · scarcity · owner operator · affordability · quota · barrier to entry · regulation · monopoly · rideshare · gig economy · transferable · investment · cash cow · debt crisis · loan shark · congestion
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- NYC Transitsubway, MTA, Grand Central Terminal, MetroCard, train
- regulationsrules, rule, regulations, regulation, law
- travel collectiblesluggage tags, timetables, travel stickers, boarding passes, ferry tickets
taxi medallionspublic transit systems
Shared government-run transportation networks
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