The Dead President's Effect, Otherwise known as 'Orbiting Money' Is low cost for no particular reason.

Effect visibility: Decent, rather visible though lack of color puts most players off paying a high price for this unusual.

Effect following: Players are wanting to show that they are wealthy in game and what a fantastic way to do so.

As for the hat itself, just look at the vintage variant, one of the most expensive, if not the most expensive vintage hat in the game currently.

Expect to see a huge rise in the cost of Dead Presidents effect in the near future.