Not for $5.50 they weren’t. They were likely just nylon sheets with the stars and stripes dyed on.
These days they’d cost $40,000 each and would be made (of cheaper material) in China by one of Obamateur’s friends. Or they’d be sewn at some union garment factory at $100 per star and $250 a stripe. It would take 4 years to make them, there would be 57 stars and 14 stripes, and they would unravel 5 minutes after launch.
Remember, that’s $5.50 in 1970s dollars.