This is a wonderful coat from Valentino's 1924 film, "Monsieur Beaucaire." Just like most of his films, he had various costume changes in this film, so hopefully there are many more coats out there. I am unsure where this coat lives today, in a collection, or a museum. A few interesting things about this piece: first, the vibrant orange color, it is great to see costumes from black and white films, since we have no idea what color they are. Second, the label in the coat that reads "R.Valentino." Not all costumes have stitched name labels in them, thus making it more difficult to authenticate.
Authentic costumes and props are ridiculously expensive, for example a pair of the Ruby Red Slippers from The Wizard of Oz sold for over $600,000. With that being said, this coat is quite valuable. I would be happy just to see it in person, and maybe try it on, my luck I would rip it; but, I would have some great photos, before the owner tackled me!