Reddit mentions of Cashmere Feel Patterened Unisex Pashmina Scarf - Multicolor Squares

So thoughts:

1. There's a significant chance you'll undergo a significant weight change over the next few years. For most, living away from home poor eating habits will catch up to you - the legendary freshman 15. I'd be hesitant on really investing more than $100 at this point in your life.
   
2. Make your own call about the color. Personally, I think black pea coats are plenty versatile; remember, you only have to match with pants and shoes (EDIT: assuming you are wearing a scarf with the coat, which personally is best). Personally, if I mostly wore lighter colored pants I go'd go for something else.
   
3. As others have noted, however, it's a fairly thin material and low % wool. If you live somewhere with really cold winters you'll need to really layer up underneath. In comparison, I had a thick, nearly 100% wool coat that was plenty warm even with just a shirt underneath.
   
4. Fit wise, no idea how this guy fits, but pea coats in general tend to run pretty huge. There's play in how an outer coat fits (compared to say a shirt or a suit coat), but make sure to try it on with just a shirt, with layers, with a suit, etc.
   
5. American Eagle has regular significant sales. If you don't need it right now, I'd wait for one.
   
6. The top button or two being button backed (aka has a button supporting on the other side) is a huge plus. Really nice/expensive peacoats should have all buttons button-backed and even less expensive coats should have at least the top. It'll dramatically help keep the buttons from falling off - a significant issue with cheaper peacoats.
   
7. Get a couple of scarfs to wear with it. Unless you are wearing a suit it'll probably look weird without one. I'd go with acrylic scarves for now, as they are dirt cheap. Acrylic scarves tend are usually thin, but very soft and warm. The downside is they leave lint all over the place, and tend to fall apart after years of use. Never, ever spend more than $20 for one (shoot for $15 or less, I've gotten ones for $5 on clearance at Kohl's). If you go for a wool/cashmere scarf, make sure it's mostly wool and doesn't contain any acrylic. You'll probably want to wear a scarf if it's cold out and you aren't wearing something collared shirt or nicer underneath (so almost always).
   
8. Speaking of lint, get yourself a lint brush. Wool attracts lots of lint.
   
9. Get a nice pair of wool gloves, as standard northface-like snow gloves will probably clash. A wool with leather grip should be functional and fit the peacoat look nicely; should be at most $30. Probably want to skip acrylic gloves, but might be a cheap holdover.
   
10. Consider getting a nice pair of leather gloves, especially if you ever plan on wearing the coat with a suit. A decent pair of cashmere lined leather gloves should run for $40 or less with sales. Macy's was selling a bunch of these for $40 recently, but you can go for less if you shop around. Make sure you get the right size, too large will look terrible and too small won't be wearable.
    
    Couple other coat options I'd look at
    
    
11. Find an authentic navy peacoat at a military surplus store. Should run you about $100, but make sure it's not an "authentic recreation" - you want the real deal.
    
12. This Nautica Peacoat is a similar priced/look/wool%/look peacoat. Fits really well though, and you can try it on at Macy's. Might get cheaper between Macy's and Amazon if you bid your time.
    
13. It's no longer on their website, but H&M was selling a shorter but otherwise similar peacoat for ~$80. Might still be stores, and it was sold in the very awesome camel color. Shorter length might be more appealing for a younger guy. The peacoat on their website is a different coat and definitely not worth $120 (40% wool).