Googling "Morgan Monroe Rocky Top" brought up this for me: https://www.google.com/search?q=morgan+monroe+rocky+top+banjo&rlz=1C1CHBF_enCA1116CA1116&oq=morgan+monroe+rocky+top&gs_lcrp=EgZjaHJvbWUqDAgAEAAYQxiABBiKBTIMCAAQABhDGIAEGIoFMgYIARBFGDkyBwgCEAAYgAQyBwgDEAAYgAQyCAgEEAAYFhgeMggIBRAAGBYYHjIICAYQABgWGB4yCAgHEAAYFhgeMggICBAAGBYYHjIICAkQABgWGB7SAQk5Mjk4ajFqMTWoAgiwAgHxBYvYUBt3Wvl6&sourceid=chrome&source=chrome.rb&ie=UTF-8

Its an asian import banjo, lower end of the morgan monroe line which is not a well respected brand. Its a player, not in the realm of collector or valuable player banjo.

Sorry for your loss.

Google AI doesn't think any model of Morgan Monroe open back came  from the factory with a frailing scoop (that area of the fingerboard where frets have been removed). Google thinks it was done later by an owner. Google does make mistakes. So this could very well be some model of Morgan Monroe sold in this form.

"Morgan Monroe" wasn't actually an instrument maker, but an instrument importer. I don't know the name of the company that owned the Morgan Monroe name. They imported guitars and banjos with that name on them -- which usually were otherwise identical to others made in Asia and shipped with other names on them.

This appears to be well-made and not the lowest of the low-level instruments. The wood rim (drum shell) is thicker than on a cheapie. This should give the banjo a good sound. It has 24 hooks, shoes and nuts, which is more than the 16 or 18 typical of the most basic entry level banjos. This provides more even adjustment of the head.

So I think it's a good banjo on which to learn. Just nothing special. If you're interested in selling instead of playing, I'd guess $500. It offers way more than a Deering Goodtime open back that costs more than that new. You could try asking $600 and see what happens.

What does it say on that little rectangular sticker on the back of the peghead? Is it the country of origin? If so, which country? Korea? China?

I'm a bit impressed that it's not a laminated neck, it appears to be one piece, although I can't see how the heel is built. The rim indeed looks good. The tension hoop and tension hooks however look to be as cheap/insubstantial as any I've ever seen. Not a sign of a "better" model. The hard shell case is a good value.

If it feels, plays and sounds good, perhaps it's a $500 used Asian banjo.

I'm thinking this model was called the Dalton, which might've been under the Rocky Top series hence the truss rod cover. 
 

Thank you everyone for replying! I'll keep everything you guys said in mind. If any of you is interested, it is indeed for sale. Please message me and we can set up a fair price. 

- Jeanne