How much should I spend on a older IHC 2-8-2?

[nachoman]

I should point out these IHC locomotives filled a void in the hobby during the 1980s and early 1990s. Back then, the Bachmann steamers were all pancake motors and ran poorly, and the next step up was probably Mantua in the 100$ range. The IHC locomotives could be picked up new on special for about 40-50 bucks, ran great, and were detailed enough that budget-minded railroaders could have a steam roster as opposed to a roster of Athearn blue box diesels.