You guys could be right, but this type of leather was originally soft...and likely did not originally have a finish on it.  100 years ago, elk or deer hide was often used.  If along the way, someone oiled or added some sort of finish or dressing, you could easily end up with wear and rot like we are seeing.     I think if we were examining this in hand, the age would be easier to judge.  That said, I am not sure why someone would go to the trouble of aging something like this to this degree.  

What is this worth 

Agreed it's probably Mexican but look how close it is to this Byzantine Egyptian coin. Interesting.   

Here it Comes - "the Big D*ck"   I shot this photo hanging over the signal bridge of the spud coming over during a Unrep from an AO in the Caribbean Sea, 1980   Refueling Probe, USS LUCE (DDG-38) 1980  

I think there is a lot more dating back quite aways.

Can´t get enough of regarding the last pictures, I wish I had something like this in my office...   Great to see your helicopters flying, they look fantastic! Nevertheless I´m still deeply impressed by your figure painting skills; mind-blowing!  Thanks for sharing & keep up your great work.   Lars

I found it on a very old farm along with many old 1700's,1800's stuff.

HMMM? I never even gave that a thought way up here in Northern Maryland but it's worthy of a look. Thanks

What would be a good value for this uniform  

Skip, you did well.  I did an inflation check and at $10.00 in 1972 that would convert to $77.81 today.   Great buy and more amazing that you still have it.  I looked around the internet and haven't been able to find any recent sales of an OCL.  Lots of LF&C's out there.