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Should be labeled MF80 what color are the wraps (yellow with a paint black trim band) or is it an early contract rod, Ive got some, natural colored rod you can see the almost tiger stripping of the Eponite blank if it is such. Red seat would be correct, red wraps with gold undertape? we really need to see a picture to give you any idea of value. However that it carries the HDH line size indicates it originally was in the class of DT6F, WF7F or S, L7F or L8S for a pre 1962 Phillipson or any glass rod this would have been a common trout taper and general purpose fly rod.
Richard

Well thats one reason, its most likely a contract rod, built before 1962, without pictures we are not gonna get much closer identifying it. You can check the Photo section of this forum, Ive one with similiar wraps, what with the red and gold undertap it sounds like it fits for sure. Are you family with Photobucket and posting pictures? If not check our photo section for some detailed instructions. Contract rods bring a bit less than those that Phillipson marketed, however their are many variations such as Leonard, Orvis and A&F which are often priced higher than the actual Phillipson models. As with any collectable the value rides with condition and accessary's a rod with an original sock and tube will bring more than the same rod in the same condition without them.
Rods made by Phillipson of Epoxite in lengths of 6ft and line wts of 4-5wt seem to bring the highest prices, rods like yours at 8ft made for a retailer without sock or tube at 7wt can bring far less.
Wild guess without a picture, a Herters, 7wt 8ft Eponite based rod, value in Very good condition ( no frayed wraps, no bent guides, no chips out of the cork, no damage to the seat, no damage to the ferrule it pops crisply, both pieces the exact same length), value around $100, any deviation from this list would seriously detract from its value.
Richard