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What is it worth?

Well a lot depends on the scarcity of the item and it's quality.

You said it's in perfect shape so that's one good point for you. The other good thing is that Rio Grande clothing items are relatively rare when compared to other western railroads. In fact the only clothing item I recall seeing in recent times on eBay was a yellow vest that I think had Rio Grande lettering on it. It was listed as a Rio Grande item but I can't remember if it had lettering or not. And I can't really remember the price either, but I think it went for around $45.

Do you know if your jacket is a Conductor's jacket? If so it would be pretty valuable. It would look somewhat similar to this:

Rio Grande Conductor

Conductors uniforms are pretty collectible and thus more valuable. Depending on condition, a jacket alone can reach the $150-$200 level easily.
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