Another vote here for a Buck 110, its a classic. Just the right size for field dressing a deer, the clip point is good for poking into hard to reach places (but is short enough to control well) and the blade has good belly for skinning the deer. They have great steel that is fairly easy to sharpen and wont rust. They have a nice sheath included, both the nylon and the leather ones. They are beautiful and classic, with strong but pretty wood and brass. A Buck 110 is just as good as it has ever been, and it is within your budget. It even has a great lifetime warranty from a good company, that makes the 110's in Idaho.
I usually use an expensive fixed blade when hunting, but I have never had a problem with my Buck 110 (it's great, I just don't like cleaning it out after it gets disgusting).
Edit: Good choice on the Vanguard! That will serve him well.