Without having my reel in front of me, I would have to say it is a fly reel...and a very good old one. Very smooth silent drag with settings 1-4. Believed it was made by Ocean City as it resembles their model 77's and some 76's. Can you post a picture?
JC Higgins had reels that sometimes shared the same numbers over the years also. Might be a baitcaster too if it's on a 5'6" rod, but you know how people can stick whatever wherever.
Not familiar, but looks like a small jigging or trolling reel (maybe around the size of a Penn 9 or 109?) and not of the knuckle-busting drag-less baitcast variety. Should work out very well with that rod. Give her a good cleaning and grease job.