Alice Forrester wins an expensive mink coat in a radio contest and troubles start piling up for her and her husband Joe. Joe's boss, Herbert Pendelton, head of the Pendleton Finance Company, is goaded by his shrewish wife, Rose, into pressuring Joe into selling him the coat. However,Alice's mother, Mrs. Marshall, and her uncle Newton, make plans for a new career, involving the coat, for Alice and Joe is unable to get the coat.THen two burglars steal the coat but ditch it in a garbage can when a police patrol car is spotted. It is retrieved from the rubbish by Nietsche, a philosophical dishwasher, it sells it to his boss,Sean O'Mulvaney, who gives it to his wife, who gets into a fight with her neighbors who question the value of the coat...and the saga goes on.