In 1977, my brother and I bought a pair of Orlando 335 acoustic 6-string, steel string guitars for $80 each in the SF valley (SoCal). In the ensuing decades those guitars have been played for countless hours in practice, as well as at gigs and recording sessions.

They aren't the very best-sounding guitars ever made (suffering from poor dynamic range and slightly muddled tone), but they're good enough that it wasn't until we could afford radically-better instruments that we bothered to get different guitars.