I bought a few different things, one of which was an 'Army blanket' a brown, wool blanket that every GI had as his top cover for his bunk.
Today, 58 years later, that blanket is in my vehicle, in a plastic bag, to be used as an emergency blanket. Granted, it hasn't seen much use but it is still very usable.
My Dad has one of those.
My parents bought me the same blanket you describe, also in an Army Navy store. It was 1970 and I still have the blanket. I took it to sleepaway camp with me that year. (Mom sewed my name tag on it as you did with every article of clothing and such you took to summer camp. It's still there. Ha.)