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Hi Mike,
Many Phillipson spinning rods make into fine fly rods. Depends alot on the model and length, they are not the exact same blanks, at least none that I have rebuilt into fly rods, usually the spinning rods are more progressive and rebuild into a faster rod than the same length etc based on the same mandrel, and there are many such examples.
However never never never breakup a minty Phillipson spinning rod to produce a fly rod, while you may get a megga bargain on the rod somewhere, its just as collectable and desired by Phillipson buffs like me. Offer it here this site would be a great one to offer such a minty spinning glass rod. If the rod is damaged, worn, etc, thats another thing, Ive build several of the early 7ft Eponite based spinning rods into fly rods. Again they are faster and use a slightly heavier line than their fly rod counterparts.
The later Scotchply uniglass blanks dont seem to follow that rule over 7tft however.
Richard