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Downtown Barber Shop Offers Shave And A Haircut For Two Pence

CHICAGO (CBS) -- Gentlemen are packing Truefitt & Hill on Monroe to get their two pence worth.

"It's been packed all day. We're rolling back our prices to 1805 is when we first opened in England in 1805 and our prices were two pence for haircut and shave," said Rick Ricci, CEO and owner of Truefitt & Hill.

"Our products were even found encased in the ill-fated Titanic and are in the museum in Liverpool, England."

Their newest location at 111 W. Monroe just opened last month.

"This is a better location for us because we are right in the middle of the Financial District, we're surrounded by lawyers, stock brokers, bankers and this is where men congregate during the day," Ricci said.

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One of the oldest barber shops in the world, its origins are in London where, once a week, its barbers still go to Buckingham Palace to look after the princes' needs.

"We're in the Guinness World Records as the oldest standing barbershop in the world," he said.

Ricci says a good shave is a lost art that men still appreciate.

"The key to a good shave is a good product and a steady hand," he said.

Truefitt & Hill also offers shoe shines.

"I think it dignifies who a man is to have a shiny shoe and a crisp white shirt. It sets the tone for the day," said Ricci.

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Truefitt & Hill's newest location at 111 W. Monroe just opened last month. (Credit: Lisa Fielding)

Truitt & Hill has 12 shops worldwide. Apart from London and Chicago, they also have barber shops in Singapore, Las Vegas, Canada, China and Malaysia.

Ricci says they specialize in men's grooming, something that has been passed on for generations.

"I think every man needs to be a little like James Bond," he said.

Some of its elite clientele has included Oscar Wilde, Charles Dickens, Lord Byron, Frank Sinatra, Winston Churchill, Alfred Hitchcock, Paul McCartney, President Obama and Laurence Olivier.

The two pence for a haircut and shave is for one day only.

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