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Everytime I look at my suggested range I cringe...
Classifieds (As of 10:45 PM EST):
1 at 1.55, 2 at 1.66, 1 at 1.77 and 2 at 1.88 http://prntscr.com/71aaws
Unsolds at the current price:
http://www.tf2outpost.com/trade/25819316 "backpack.tf price"
Seller below:
http://www.tf2outpost.com/trade/25839455 1.77 ref
Recent sales:
http://www.tf2outpost.com/trade/25816918 1.88 ref
Although 1.88 still does happen occasionally, 1.77 has remained unsold, so a range should suffice.