The Worthless Ellis cap Was added to the crafting Reagent, I belive price will go up so hold onto your Ellis Cap.
----Edit
Turns out Valve confused Ellis Cap With Bill's Hat, Wooopsie Doodles for you Valve.
too bad i sold mine already
And I was about to buy an Ellis cap for 1 refined.
I belived it was, afterwards looked around, It was Actually Bills, they are now craftable.
i was hoping to buy one for a rec from people who didnt know and sell it for a ref