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"it should be"
heh, downvoted sorry
First you should have looked at what the other effects of this hat are priced on this site. Sorry, downvote.
tf2pc puts it at about 3.5, no notable offers on the one in outpost.
http://www.tf2outpost.com/trade/3531516- Previous trade from the one on outpost, highest visible offer was 2 buds.
That's the information I could find anyway.