I had an uncle that was a good friend of John B Stetson back in the 30's and 40's. My uncle's name was Buck. He was 6'7" and weighed 300 pounds. Back in the 40's JB came out with the " The Big Buck" named for him. It was a 10 X beaver Stetson and JB gave my uncle one for each of the 5 male members of the family at the time.
I was always told that each X represented the number of pelt's worth of beaver hair it took to make a particular hat.
Back then each X was worth $10.00 and that was the best hat that JB made at the time. Now I will admit that a $100 Stetson was pretty prime doin's in the 40's. My Dad wore that hat for years and I wound up with it in the 60's. It only gave up the ghost when I was tightening a wire on a barb wire fence and the wire broke. The end came right by my face, ripped the hat off my head and shredded the brim.
I still wear the Resistol my folks gave me for my 21st Birthday from time to time. I think it was a 5X beaver.
You can see it in the picture up in the corner of this post and in the picture below.
I've got a Bailey's hat for marryin's and buryin's, but it sure din't cost no $500 or more. Don't think it cost $100 and I been wearin' it for more than 10 years.
I guess what I'm sayin' is you can fair pass for a cowboy without sellin' the farm to git a hat.