I don't know these well enough to know if it's phantom. The dropouts look post war so the serial number might be on the non-drive side dropout, possibly partially covered by the axle nut. @Wildcat might have an idea what you've got here.
That serial# comes up 1953 on the decoder website. I don't see a Black Phantom model for the women's frame for that year so it's probably a different model that someone did up as a Phantom. Still a neat bike. https://bikehistory.org/catalogs/1953.html
H with 5 digits could also be 1946, but there's no way to know what parts have been changed, added, or painted.
Is the number on the dropout or bottom bracket?
The headtube seems to be originally white, so that would rule out a Phantom. The rims aren't Schwinn but it looks like everything else is.
Here's a 53 Hornet from the catalog. Yours has a phantom headlight and springer that may have been added on when new.
It might be a 1951. I have 2 1950 Panther frames and the serial numbers start with G. My wife's Panther is a 1951. I'll check the number on it, if I can find it. I'm fairly sure only the Phantom came with a train light on the front fender. Phantom were produced from 1949 to 1959.
Here's what I got from the CABE.
Jan. 12 to 14, 1953
H60001 thru H16956 were stamped on those dates. Yeah I know the numerical sequence doesn't make sense. I'd ask those guys "what's with that?". But I think most of those guys are dead or a least to old to remember.