A good coat rack like this one on Amazon here costs you about $50. But it is not all about cost, you can always make DIY coat rack your own way, and use the best material you like. Look at this project. The rack looks great, and it is quite solid comparing with some of the manufactured ones. It only cost $30 plus your time to make it. More importantly, what matters the most is the process and accomplishment. Check out the details if you want to make one.