The price of leather jackets

[Deleted member 16736]

I was checking out this eBay listing for a Sears Hercules civilian A-2 and noticed the original price tag: $19.95. Now that sounds incredibly cheap to us in 2011, but in the 1940's, $20 bought half an ounce of gold, which at the time was fixed at $42 (more or less). With gold at $1800, it takes $900 to buy half an ounce of gold today. And what does a new horsehide leather jacket cost today? Around $900, or about half an ounce of gold. Moral of the story: despite all the talk of inflation, the price of things in real terms, including leather jackets, hasn't really changed in 70 years. If we went back to a gold standard, they probably wouldn't change again for another 70 years. So despite Aero's price increase, don't despair! Leather jackets aren't getting more expensive at all.

http://www.ebay.com/itm/VINTAGE-194...ltDomain_0&hash=item2a140f63cc#ht_3692wt_1398

 

[dash69]

still a bargain.

I was checking out this eBay listing for a Sears Hercules civilian A-2 and noticed the original price tag: $19.95. Now that sounds incredibly cheap to us in 2011, but in the 1940's, $20 bought half an ounce of gold, which at the time was fixed at $42 (more or less). With gold at $1800, it takes $900 to buy half an ounce of gold today. And what does a new horsehide leather jacket cost today? Around $900, or about half an ounce of gold. Moral of the story: despite all the talk of inflation, the price of things in real terms, including leather jackets, hasn't really changed in 70 years. If we went back to a gold standard, they probably wouldn't change again for another 70 years. So despite Aero's price increase, don't despair! Leather jackets aren't getting more expensive at all.

http://www.ebay.com/itm/VINTAGE-194...ltDomain_0&hash=item2a140f63cc#ht_3692wt_1398

you get what you pay for ring's true most time's...i'm waiting for 2 aero's right now.my first.a teamster,which i don't see a lot of post's on,and a highwayman.i'm confident they'll be more than i expect,or need in the way of a tough wearing,well made jacket.i own a lw suburban,which i bought on ebay used.love it.i'm sure the aero's will be comparable.

 

[KyleK]

you get what you pay for ring's true most time's...i'm waiting for 2 aero's right now.my first.a teamster,which i don't see a lot of post's on,and a highwayman.i'm confident they'll be more than i expect,or need in the way of a tough wearing,well made jacket.i own a lw suburban,which i bought on ebay used.love it.i'm sure the aero's will be comparable.

I've been going back and forth about ordering a Teamster or Long Half Belt. I'm very interested to see your Teamster when you get it. Please post pics! The only images I've been able to find are on Aero's website.

 

[dash69]

aero's picture's are limited on teamster...and i've searched high and low to get a few picture's prior to ordering of someone with the teamster that's actually wearing one.no luck.anyway i'll be happy to throw up a few shot's upon my recieving the jacket.i'll have the old lady take some.i'm taking a little gamble i think,but i'm sure it's a good choice.

 

[GoodTimesGone]

I have a Sears Hercules like the one in the listing in size 42. The only difference is the one I own has a red lining. Does anyone know if it really dates to the 1940's? I always assumed mine was '50s. They're a great comfortable jacket. The horsehide is not very thick on this model but the insulation makes them a little heavier. My 42 fits like a 40, so I assume the 46 being sold fits like a 44. That Prentice zipper will need replacing soon. The Prentice on the one I bought was frayed like that and only lasted a week, so I had a leather seamstress put a NOS Conmar on it. But back to the heart of the topic- Great point Joel. It puts things in perspective . Like it or not.
Tom

 

[PoohBang]

I wouldn't use the hugely inflated price of today's gold as a basis to say $900+ is a great price for a jacket.

You're comparing it to a jacket that was sold at Sears. Not some custom handmade jacket.

I can't see them as the same. You should see what Sears is selling now and use that as your example.

 

[ButteMT61]

I wouldn't use the hugely inflated price of today's gold as a basis to say $900+ is a great price for a jacket.

You're comparing it to a jacket that was sold at Sears. Not some custom handmade jacket.

I can't see them as the same. You should see what Sears is selling now and use that as your example.

Give me the breakdown of when gold was priced "appropriately" please?
Also, in the day, Sears made great gear for working people. Those jackets were likely not made in China/India and were of great quality. That's why they're still around today.
Look at what they sell today and see if it's nearly as good - it ain't.
I think Joel's example is actually spot-on. It's not really out of the bounds of a comparison, and perspective is nice. Thinking how much money I make per hour, it's a good deal. How many days does it take to make a custom jacket?

 

[Edward]

I have a Sears Hercules like the one in the listing in size 42. The only difference is the one I own has a red lining. Does anyone know if it really dates to the 1940's? I always assumed mine was '50s. They're a great comfortable jacket. The horsehide is not very thick on this model but the insulation makes them a little heavier. My 42 fits like a 40, so I assume the 46 being sold fits like a 44. That Prentice zipper will need replacing soon. The Prentice on the one I bought was frayed like that and only lasted a week, so I had a leather seamstress put a NOS Conmar on it. But back to the heart of the topic- Great point Joel. It puts things in perspective . Like it or not.
Tom

As far as sizing goes, in my experience anything much before the mid Sixties you can be pretty sure that the labelled size will be 'one up' from the equivalent today. typically, again in my own experience, a suit jacket from back when labelled a 42 will have an actual chest measurement of 44, while the equivalent today will measure 46 around the chest. Of course, there's no hard and fast rule - I vary between a 42 and a 44 even in contemporary stuff, cut depending. FWIW, I find the more expensive and/or better cut stuff I often have to go up a size in.

 

[Guttersnipe]

Using specific items as purchasing power parity compairables can be tricky. As someone mentioned, the demand for gold as an inflation hedge has pushed its price up, on the other hand, the 1950s were an inflationary period. That said innumerable other market forces can cause a single one item to cost more, relative to the CPI yearly average, from one year to the next (hence the use of an average).

Also important to note is that relative to incomes, many consumer items used to cost a significant deal more; I've heard toasters and other kitchen appliances are a good example if this.

 

[PoohBang]

Give me the breakdown of when gold was priced "appropriately" please?
Also, in the day, Sears made great gear for working people. Those jackets were likely not made in China/India and were of great quality. That's why they're still around today.
Look at what they sell today and see if it's nearly as good - it ain't.
I think Joel's example is actually spot-on. It's not really out of the bounds of a comparison, and perspective is nice. Thinking how much money I make per hour, it's a good deal. How many days does it take to make a custom jacket?

easy there...

Okay, gold was priced "appropriately" from say 1833- 1918 at about $18.00 an oz. and under $100 all the way up to the first rise of 1973. So what's that, 150 years of basically the same price. and then stayed steady for the most part from the late 70's throughout the mid 2000's.. another 30 years. and then tripled in the last 5 years. I'd say it was appropriately priced from 1833 throughout 2004.

No arguing with Sears quality back in the day. I love their stuff. Also with the quality. Top notch.

Yup, they sell crap jackets now for sure.

But the original post was the price of a Sears (common man) jacket compared to the price of gold. Not the custom made jackets of 1940's, which did exist. Perhaps a comparison of those prices would work better.

I know you're just arguing with me because you've got a beef with me for some reason, so why not keep it in the observation bar area and not junk up this thread.

 

[Seb Lucas]

I was checking out this eBay listing for a Sears Hercules civilian A-2 and noticed the original price tag: $19.95. Now that sounds incredibly cheap to us in 2011, but in the 1940's, $20 bought half an ounce of gold, which at the time was fixed at $42 (more or less). With gold at $1800, it takes $900 to buy half an ounce of gold today. And what does a new horsehide leather jacket cost today? Around $900, or about half an ounce of gold. Moral of the story: despite all the talk of inflation, the price of things in real terms, including leather jackets, hasn't really changed in 70 years. If we went back to a gold standard, they probably wouldn't change again for another 70 years. So despite Aero's price increase, don't despair! Leather jackets aren't getting more expensive at all.

http://www.ebay.com/itm/VINTAGE-194...ltDomain_0&hash=item2a140f63cc#ht_3692wt_1398

Cost of jackets, cost of gold... that's a very small sample group. In 1940 the average US wage was $1725 a year that's 86 jackets at $20. Today it's $63000, that's 70 jackets at $900 each. Of course there can be debate about what the average wages were. Then look at house prices, cost of gas and cost of a car and see if the comparison still holds. Comparisons are tricky.

 

[ButteMT61]

easy there...

...I know you're just arguing with me because you've got a beef with me for some reason, so why not keep it in the observation bar area and not junk up this thread.

Not at all. I just thought you were taking the spirit of how I thought Joel intended it too seriously.
No junking here - leave it at that.

 

[s_crumb]

I usually reference this site http://www.measuringworth.com/uscompare/

Depending on what method you select you get a lot of conflicting information. FWIW

 

[Sillyrib]

I think the jacket sold for $292 in 2012 with an approximate 1940 value of $320. So it has kept most of its value for 72 years. Not bad. Of course, a deadstock version of that jacket would easily sell for $900.

 

[Deleted member 16736]

Cost of jackets, cost of gold... that's a very small sample group. In 1940 the average US wage was $1725 a year that's 86 jackets at $20. Today it's $63000, that's 70 jackets at $900 each. Of course there can be debate about what the average wages were. Then look at house prices, cost of gas and cost of a car and see if the comparison still holds. Comparisons are tricky.

From 86 jackets to 70 jackets. Pretty close, but it does mean the average worker is earning less money in real terms. So our standard of living is going down. Sounds about right.

 

[Deleted member 16736]

I also find it interesting that the price of a "Sears-quality" leather jacket today is $1000-1200, which would mean gold at $1600 is underpriced. It should really be $2000-2200, unless you think the price of leather jackets is coming down and I don't.

 

[Aerojoe]

I was checking out this eBay listing for a Sears Hercules civilian A-2 and noticed the original price tag: $19.95. Now that sounds incredibly cheap to us in 2011, but in the 1940's, $20 bought half an ounce of gold, which at the time was fixed at $42 (more or less). With gold at $1800, it takes $900 to buy half an ounce of gold today. And what does a new horsehide leather jacket cost today? Around $900, or about half an ounce of gold. Moral of the story: despite all the talk of inflation, the price of things in real terms, including leather jackets, hasn't really changed in 70 years. If we went back to a gold standard, they probably wouldn't change again for another 70 years. So despite Aero's price increase, don't despair! Leather jackets aren't getting more expensive at all.

http://www.ebay.com/itm/VINTAGE-194...ltDomain_0&hash=item2a140f63cc#ht_3692wt_1398

According to this web; http://www.westegg.com/inflation/ 1940's $20 would be like $307.49 today.

Maybe the problem is that you're comparing two different monetary systems. The former is even before Bretton-Woods and the later is after Bretton-Woods and a couple of dozens of recession where gold is refuge against currency debasement.

In other words, you are comparing wages like if a 1940s worker did actually change dollar notes for gold and keep it in a safe all this time... and I wonder if that worker really was able to do so back in 1940. Technically he could but in the real world, you have to live, buy food and support family.

 

[Seb Lucas]

Well I think the point we've learned by now is that comparing prices doesn't really help us. What money buys you today can't compare to what it bought 70 years ago. There are so many scales to balance against. And just take the issue of quality. I can get a shirt today for $2 that'll last one summer. In 1940 you could buy a shirt for $2 that would last twenty summers.

 

[Aerojoe]

And just take the issue of quality. I can get a shirt today for $2 that'll last one summer. In 1940 you could buy a shirt for $2 that would last twenty summers.

programmed obsolescence policies

 

[Edward]

Well I think the point we've learned by now is that comparing prices doesn't really help us. What money buys you today can't compare to what it bought 70 years ago. There are so many scales to balance against. And just take the issue of quality. I can get a shirt today for $2 that'll last one summer. In 1940 you could buy a shirt for $2 that would last twenty summers.

What was 1940's two dollars, though - twenty cents in today's money? It's all relative.