Once A Sure Bet, Taxi Medallions Becoming Unsellable

No One Wants To Buy Taxi Medallions Anymore
The NYC taxi was first introduced in July 1897.In order to cut down on unofficial drivers, the city in 1967 ordered all licensed "medallion taxis" to be painted the same color to make the cabs more recognizable.The new apple green street hail livery vehicles known as 'Boro Taxis' provide the people living in the Bronx, Brooklyn, Queens and Upper Manhattan access to metered taxis which are more affordable than regular livery cabs that charge flat rates.#nycphotography #canonphotography #nyctaxi #travelphotography
The NYC taxi was first introduced in July 1897.In order to cut down on unofficial drivers, the city in 1967 ordered all licensed "medallion taxis" to be painted the same color to make the cabs more recognizable.The new apple green street hail livery vehicles known as 'Boro Taxis' provide the people living in the Bronx, Brooklyn, Queens and Upper Manhattan access to metered taxis which are more affordable than regular livery cabs that charge flat rates.#nycphotography #canonphotography #nyctaxi #travelphotography

Until recently in America's big cities, purchasing a taxi medallion—the city-issued license to operate cabs —was about as sound of an investment as they come.

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