This is the costume used by Vincent Price as George Brissac in the 1951 production of "The Adventures of Captain Fabian", also starring Errol Flynn and Agnes Moorehead. The film was written by Flynn himself and directed by William Marshall (and Robert Florey, although he is uncredited).

Price wears this costume throughout most of the film, probably due to the low budget of the production. The film was filmed in France and distributed in the USA by Republic.

I was very lucky to be able to identify the costume, down to the details. It was purchased as being from an "unknown production" at a Bonhams, UK, auction. The costume had suffered some changes, mainly the shortening of the cuffs, removal of buttons on the front, sides and back and the hem at the front was "rounded out" where it had been straight.