It seems like to me that $12.50 back in 1955 was some decent money for a reel. I'm not totally sure, I wasn't there.

If I were you, I would hop on a currency converter or something and see how much $12.50 in 1955 money is equal to today, help you get an idea of how much the reel would cost today and maybe figure out the quality of the reel, like if it was a really serious reel or more along the lines of a cheapie Shakespeare today. (Not saying Shakespeares aren't good reels, but most of 'em come pretty cheap) Good luck