The New York subway opened in 1904 with a fare of 5 cents. In 2008 dollars that would equal approximately $1.22. The fare did not increase until 1948, when it was raised to a dime, or 89 cents in 2008 dollars. The New York City Transit Authority was established in 1953, and the fare increased to 15 cents ($1.21 in 2008 dollars). Subway fares have continued to increase regularly since then.
The New York subway marked a dramatic change in lifestyle for New York residents. In 1900, 3.4 million people lived within the borough of Manhattan. Neighboring boroughs were nearly unpopulated, because residents were unable to move away from their jobs in Manhattan. The New York subway made it possible for New Yorkers to spread out. At the time, the clean electric trains were also the fastest mass transit system in the world.
New York subway fares were originally payable only in cash. The New York City Transit Authority introduced tokens in 1953. For the next four decades, tokens were the only option. In 1994, reloadable plastic MetroCards were introduced. The cards had a number of advantages, including the technology needed for reduced fares and special promotions. Nonetheless, many New Yorkers preferred tokens, which were accepted through December 2003.
The original "small Y" subway token lasted until 1970, when the size and weight were increased. In 1979, the "Diamond Jubilee" token celebrated the subway's 75th anniversary. Introduced in 1980, "Bullseye" tokens were the same size and weight as the less expensive Connecticut Turnpike tokens. Over 2 million Turnpike tokens were dumped into New York subway collection boxes. The last token design was the "Five Boroughs" pentagon, used from 1995 through 2003.
New York subway fares have risen steadily since the subway's inception, but the introduction of the MetroCard began a new era of discounts and promotions. Students, children, elderly passengers and disabled riders qualify for reduced fares. The popular pay-per-ride stored-value cards provide additional bonuses and incentives. MetroCards can be used throughout the New York Transit Authority system as well as on the subways.
