Cobaltocenium carboxylate is an unusual betaine that functions as a formally neutral carboxylate ligand with late transition metal centers comprising Co2+, Ni2+, Cu2+, Ag+, Zn2+, Cd2+, Hg2+, and Rh+. Structurally, a rich coordination chemistry is observed – from simple monomeric homoleptic complexes to heteroleptic dimeric, trimeric, and polymeric compounds, as shown by X‐ray diffraction of 11 compounds. Chemically, thermal decarboxylation was investigated aiming at the formation of cobaltocenium‐carbene transition metal complexes, in analogy to such chemistry of imidazolium carboxylate betaines. Cytotoxicity studies of cobaltocenium carboxylate transition metal complexes were performed to evaluate the medicinal bioorganometallic potential of these compounds. While cobaltocenium carboxylate was inactive, its complexes with Ag+, Cd2+, and Hg2+ triggered significant cytotoxic effects.