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Yes, down to $18 + $12 ship. It looks very old but it appears the sweatband is missing so I don’t want to mess with it.
A riding hat makes sense to me. I found another one referenced in 2015:
Post in thread 'The Bowler or Derby Hat'
https://www.thefedoralounge.com/threads/the-bowler-or-derby-hat.32818/post-1967604
I was expecting it to be older. The style of the factory label is 1940s plus/minus a few years.