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Debating the Idea That a '100' Was a $100 hat

HatsEnough

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OK, I have been thinking about this for a long time and I'd like as much debate about this as possible.

Everyone keeps saying that any hat that a manufacturer called a "100" (or a "one hundred") was called that not because it was 100% beaver, but because it was priced at $100. I have to say that I just don't believe this as a pat explanation. I just don't think inflation and pricing works that way over the (at least) three decades that 100s were made.

It seems to me that hats makers called a "100" started in the late forties and early 50s (and if I am wrong on any particulars, I hope more knowledgeable Loungers correct from here on out. I want to learn here, I am not saying I know all of this beyond doubt. Hence why I am calling this a debate.).

Now, we most certainly have early 50s advertisements showing Stetson 100s being priced at 100 dollars. That really is beyond doubt. We have also seen other early adverts of other companies saying the same. But the fact is 100s were made at least until the late 60s even early 70s. You simply cannot make me believe that a hat that cost $100 in 1950 would still be $100 in 1970! Inflation simply does not allow this.

I have Stetson 100s and Churchill 100s. I have 7Xs and 10X beavers. They were made spread out from between 1950 and 1970. The earlier ones are better made, granted, but the later ones are no slouches, either! They are all very fine hats.

So, I have a Stetson 100 in the leather trunk from the mid to late 1950s. Maybe I can buy the idea that the hat cost $100 then. But I am guessing the price went up if you also bought the leather hat trunk. I'll bet extra was charged for the trunk. There is no way you'd be able to buy the hat for $100 and get that whole trunk and stuff for free! I say this because I have seen ads for Knox hats where they note in the ad that the deluxe box with the leather belt and Knox logos was a "slight extra charge." If they are charging extra in the 50s to put a $20 hat in a fancy box, there is no way a leather trunk would be free in a Stetson 100. So, in essence, a Stetson 100 was more expensive than $100 if you got the trunk and all.

Now, here is another consideration...

I have a Stetson 10X beaver from the late 60s (it has the black tag with the US hat size and the metric size underneath it). Inside this hat is the original inventory tag with the pertinent info including the fact that this hat was priced at $1050.00.

Now, a 10X beaver is at the very least comparable to a Stetson 100 of the same era, wouldn't you say? There is no way you can make me believe that a Stetson 100 in 1960 was $100 yet only a few years later a 10X beaver was a thousand dollars! This makes no sense at all.

Now, I know we still have no clue how much beaver is in any manufacturer's one hundred hat. After all, those were closely guarded industry secrets. But it just strains credulity that inflation caused every other hat model to gradually raise in prices, but we are supposed to believe that a "100" was always $100! I mean Stetson's low priced hats in the same period crept up from $9 to near $15 and more in that same period of time. How could their top of the line hat always stay at $100! I don't think it did.

So, come on, guys. Enlighten me. How can a "100" always have gone for $100 from 1950 all the way until 1970 when every other item on the planet doubled even tripled in price during that time period?

I think it is more likely that a "one hundred" hat did start as a $100 hat in the late 40s and early 50s. $100 was a LOT of money in 1950. f you had $100 to waste on a hat in 1950 you were well heeled, for sure. In 1950 many cars went for around $2,000. Average houses were something like $6,000. So $100 for a hat was quite a bit of spending. But as inflation and the years rolled upward, there is simply no way that the 100 hat stayed priced only at $100 just because it was called a "100." And while every other hat was going up in price at that. It just makes no economic or manufacturing sense to assume that it did. So the term "one hundred" (or 100) went from a price indication to a quality designation and no longer denoted the price.

Where am I wrong?
 
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carouselvic

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"I have a Stetson 10X beaver from the late 60s (it has the black tag with the US hat size and the metric size underneath it). Inside this hat is the original inventory tag with the pertinent info including the fact that this hat was priced at $1050.00."

Can you show me any evidence that Stetson made a 10X hat in the 60's?
 

Marc Chevalier

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The earlier ones are better made, ...


I think you might have just answered your own question. Perhaps the price stayed the same, but the quality went down. Or ... the hat manufacturers figured out how to make the same great lid with an ever wider profit margin. Or the margin narrowed over time, but the hats continued to be made --and sold for $100-- anyway.
 
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VetPsychWars

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I think you might have just answered your own question. Perhaps the price stayed the same, but the quality went down. Or ... the hat manufacturers figured out how to make the same great lid with an ever wider profit margin. Or the margin narrowed over time, but the hats continued to be made --and sold for $100-- anyway.

This is indeed true of many things. A decent color TV in the mid-50s cost about $500. In the late 70s, it cost about $500. Today? About $500.

Now a hat is not a color TV, but it wouldn't be out of the question for a hat to be manufactured differently to meet a price point of $100.

Tom
 

HatsEnough

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This is indeed true of many things. A decent color TV in the mid-50s cost about $500. In the late 70s, it cost about $500. Today? About $500.

Now a hat is not a color TV, but it wouldn't be out of the question for a hat to be manufactured differently to meet a price point of $100.

Tom

But, you can't compare apples to oranges. TV sets improved in manufacturing capabilities, process, materials and ubiquity not to mention competition. On the other hand, hats did none of those things in the same period. In fact, hat makers became far and few between ending high competition, the main reason prices go down.

So, no, your comparison does not work at all to explain the "100" debate.
 

HatsEnough

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I think you might have just answered your own question. Perhaps the price stayed the same, but the quality went down. Or ... the hat manufacturers figured out how to make the same great lid with an ever wider profit margin. Or the margin narrowed over time, but the hats continued to be made --and sold for $100-- anyway.

Again, this does not pass the smell test to me.

There is no way a hat that was of such high quality that it cost $100 in 1950 (at least equivalent to $1,000 in 1960 money) went down in quality so much that it was still only $100 by 1960 but was still called the top of the line hat. Remember, all the other hat styles were rising in price.

It makes no logical economic sense that a top of the line hat would never go up in price while every single other hat of all other and lower categories were rising in price.

It also makes no logical sales sense to lower the quality of your top of the line hat so much that it is worth no more than a regular hat! If quality was being lowered to save costs in manufacturing, it makes no sense that they'd do it only in the top of the line hat while keeping it at the same price, but also lowering quality in the other hats while raising the price of those!

Remember, a regular low end hat was near $10 in the 1950s but by the 1970s was getting to $80 and $90 according to ads I've seen here on the Lounge.
 
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Brent Hutto

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There is no way a hat that was of such high quality that it cost $100 in 1950 (at least equivalent to $1,000 in 1960 money)...

Get a little more realistic with your numbers.

$100 in 1950 had the same buying power as $122.82, not $1,000!

Now by 1970 it was up to $161.00 because unlike the 50's, the 60's were an era of pretty meaningful increases in the CPI. But that really took off in the 70's so that by 1980 our $100 (1950) was up to $341.91 which is what we think of when the "inflation" is bandied about.

It's not up to $1,000 even now although it would be a little over $900...
 

SteveAS

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Again, this does not pass the smell test to me.

There is no way a hat that was of such high quality that it cost $100 in 1950 (at least equivalent to $1,000 in 1960 money) went down in quality so much that it was still only $100 by 1960 but was still called the top of the line hat. Remember, all the other hat styles were rising in price.

Did you read the 1971 advertisement carouselvic posted? Doesn't that put an end to the proposed debate?
 

VetPsychWars

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Get a little more realistic with your numbers.

$100 in 1950 had the same buying power as $122.82, not $1,000!

Now by 1970 it was up to $161.00 because unlike the 50's, the 60's were an era of pretty meaningful increases in the CPI. But that really took off in the 70's so that by 1980 our $100 (1950) was up to $341.91 which is what we think of when the "inflation" is bandied about.

It's not up to $1,000 even now although it would be a little over $900...

In the 70s, the US Dollar was no longer based on a certain amount of gold, so yes, inflation took off.

As for your comment above, HatsEnough, your $100 hat as time went on was a lot less desirable, so if they wanted to sell any at all, they would have to keep the price down because demand was otherwise less. They probably made a lot fewer of them and sold a lot fewer of them... and would have sold none at $200, perhaps.

Price compression happens for a number of reasons, and one of them is that your marketplace demands it. If your customer says "I'm not paying that!" you either lower your price or stop offering the item. We know they didn't stop offering the 100 hats, because they existed. Therefore, it's reasonable to expect that they kept the price down to sell any at all.

I would like to remind you that you can't ask for a debate and then shout people down when they offer opinions, which is what I felt like you did to my perfectly-reasonable scenario. I'm sorry you disliked my analogy.

Tom
 
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spring1971.png

That is pretty hard evidence to me that the 3X at $15, the 25 at $25, the 7X CB at $50 & the 100 at $100 lasted into the 1970s just before Stetson stopped being in the hat business.
These hats didn't get more expensive to produce = they got cheaper. Machinery was fully depreciated, processes fully optimized...
Stetson could easily adjust the effort & how much a master hatter did to the 100's to control cost.
Their profit margin wasn't as much but there was still some in there.
 

HatsEnough

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That is pretty hard evidence to me that the 3X at $15, the 25 at $25, the 7X CB at $50 & the 100 at $100 lasted into the 1970s just before Stetson stopped being in the hat business.

I can't read your ad. It is too small for my eyes. I also have no idea what the date is on that ad. That is why I skipped over it because I can't even read it.
 
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HatsEnough

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I would like to remind you that you can't ask for a debate and then shout people down when they offer opinions, which is what I felt like you did to my perfectly-reasonable scenario. I'm sorry you disliked my analogy.

Tom

You have an odd definition of "shouting" people down!

Not only are you too thin skinned, but you don't understand what a debate is. I say something, you counter with something, then I continue the debate by countering again. Questions are asked, theories are presented, more questions are asked... that is how debates work. A debate is not one side, then another side, then it's over. College debate classes would be awfully short if that was the way it was.

I was in no way disrespectful of you. I just found your analogy inapt. You tried to compare apples to oranges, as I said.
 

jlee562

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I can't read you ad. It is too small. I also have no idea what the date is on that ad. That is why I skipped over it because I can't even read it.

If you click through to the imageshack link it gets slightly larger. But in the top box describing the Open Road, the top quality is the Stetson 100 priced at $100
 

rlk

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Shrinking demand for both raw materials(fur) and finished hats and moderate general inflation easily allowed for the price stability of the higher margin top-line hats. Stetson only lasted(as a manufacturer) until the 1971 date of carouselvic's ad where the prices remain much as they did from the post ww2 period forward. Many commodities have been quite stable so general inflation formulas are frequently useless for specific items.
 

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