This work reports a low-cost method for large scale production of high quality graphene via radio-frequency chemical vapor deposition. High quantities of graphene were successfully synthesized on the Fe-Co/MgO (2.5:2.5:95 wt.%) catalytic system utilizing acetylene as a hydrocarbon source at 1000 °C. The as-produced graphene sheets were purified in a single step by washing with a diluted hydrochloric acid solution under sonication. Next, they were thoroughly characterized by microscopy, spectroscopy, and X-Ray diffraction. Advanced transmission electron microscopy and atomic force microscopy analyses have indicated the formation of 3-5 layered graphene nanosheets. Thorough analyses by Raman spectroscopy were also performed demonstrating the presence of high quality and few-layer graphene samples. This low cost and highly reproducible method may be applied in a straightforward way to produce large quantities of graphene for various advanced applications.