This hat is a spy.

Sale #1: 1.9 * 0.9 = 1.7 buds

http://www.tf2outpost.com/trade/24605077

Sold for a Terror Watt Counterfeit Billycock

Counterfeit: http://www.tf2outpost.com/item/440,3443874336,602,5

Bakerbiters: http://www.tf2outpost.com/item/440,3424943360,108,5

Sale #2: 1.2 * 0.9 = 1.1 buds

http://www.tf2outpost.com/user/76561198071836212

Sold for an Aces High Lord Cockswain's Pith Helmet

Cockswains: http://www.tf2outpost.com/item/440,3372678887,439,5

Billycock: http://www.tf2outpost.com/item/440,3366841146,602,5

Minis:

Mini for the Counterfeit Billycock: 2.4 - 0.3(bonesaw) = 2.1 * 0.9 = 1.9 buds

http://www.tf2outpost.com/trade/24706602

Sold with a Pro SF Bonesaw for a Miami Night's Juju

Billy: http://www.tf2outpost.com/item/440,3443874336,602,5

Bonesaw: http://www.tf2outpost.com/item/440,3443978350,1143,11

Juju: http://www.tf2outpost.com/item/440,3450831547,935,5

Pro SF bonesaw:

http://steamcommunity.com/market/listings/440/Strange%20Professional%20Killstreak%20Festive%20Bonesaw

About 4 keys.

Mini for the Cockswains: 1.3 * 0.9 = 1.2 buds

[No outpost link]

Sold for a Terror Watt Plumber's Pipe

Pipe: http://www.tf2outpost.com/item/440,3431562124,30022,5

Cockswains: http://www.tf2outpost.com/item/440,3422968975,439,5

Thank you, have a nice day.