As I understand it from reading this forum for several years, the Stetsons with black leather sweatbands are considered a sign of a downturn of the company's quality in craftsmanship. I just received this stingy Royal Stetson in 7 5/8 Long Oval. As you can see, it was fairly poorly listed and photographed, hence the low price (I'm assuming). The felt is very thick and malleable, and it has an olive tint to it (it'd be a good Oktoberfest fedora). I like it a lot so far and I'll post pictures later. But in the meantime, it has the black leather sweatband and my curiosity is piqued. If it helps, it was sold at The Jones Store, an apparently well-known Kansas City department store.