In 2004 dollars? This is a key point, as I paid $205 for a NIB Walther PP in .22LR from a dealer. That was in 1975, of course. Paid even less for a NIB High Standard .22Mag 9-shot revolver as I recollect. The Walther would cost upwards of $900+ at Earl's today, IIRC.
It's all relative. "Inexpensive" is different than "cheap". I can honestly say that the "cheapest" handgun I ever bought was a .380 AMT backup, when I was working the street and they were the 'latest' thing. Pretty worthless, IMVHO. Several 'better' alternatives available, even then, at around the same price, which I can't even remember now. I only kept it a couple of months, but I was a trading fool back then. One of the few guns I ever traded out of that left me with no regrets. YMMV.