Arrgh! I'm torn!! Please ladies (and even gentlemen- if any!), help me decide!!!

Hi all! I'm just gonna lay out the facts here & beg for advice on what I should do! Ok... Hubby's bday is in 2 days. I REALLY wanted to get him this sport coat he really wanted (and looked AMAZING in), but money is SOOO tight right now, and it's a $400 coat... I can't afford it. However, I have a VERY nice men's pocket watch & chain that my father gave to me years ago when I took a liking to it. He had no use for it & was going to sell it until he saw how much I liked it, so gave it to me. I recently had it appraised, and it turns out it's value is quite high. It's worth about a grand, and the cheapest I've found it for sale online was $800. I was thinking of selling it & using the money to buy the coat, but I'd lose a lot of $ doing that, as if I took it to a pawn shop, I'd be lucky to get a least $400 for it, maybe even less. I hate to do that with such a valuable item, but I really wanted to get DH that coat. So, here's my dilemma... Should I sell the watch & not even get it's full value to be able to buy the coat, or should I give the watch to my husband as his B-day gift & tell him he can do whatever he wants with it? If he likes it, he can keep it (he doesn't even know I own it, and has never seen it- it's been packed away in my closet for years btw), or if he wants, he can choose to sell it himself so he can use the money for the coat he really wants. What would y'all do in this situation? Thanks for the advice everyone!!