Appears to be a PM7 from the Pete Margo line. 70's/80's.
In -excellent- condition, the value is possibly $150 to someone looking or wanting a Palmer from this line. It is obviously not worth refinishing and doing so will NOT turn it into a $400-$500 cue.
If this was a flea market or pawn shop find, my advice to consider any offers.
If it's straight and in good condition, keep it and play with it.
Those Cues play just fine.
Don't let anyone STEAL it from you for $150.00
if it hits solid its worth whatever its value is to the owner. not worth selling unless it hits bad then who wants it. 150 is probably right. after gene balner was gone the palmers were not longer considered anything but a production cue.