Few fashion items endure like a well-cut wool coat in the wintertime. Purchasing a quality version of this forever classic buys you shortcut to timeless style—and, importantly, warmth as the temps go down. The right shape can easily live in your closet for years, but that doesn’t mean you need to shell out a month’s rent to find the best style. From heritage brands like Banana Republic and J. Crew to contemporary upstarts like Rue Sophie and The Frankie Shop, there are so many places to find your new favorite wardrobe staple (and stay warm while doing it). We’ve found 20 great options under $500—shop them right here.

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