The Best 5 String Banjos for the Money

There is no shortage of instruments on the market, but the ones worth talking about tend to cluster around a few well-regarded names. The 5-string banjo world is smaller and more knowable than, say, the guitar market — a handful of trusted builders and a handful of models that have served players honestly for decades. What follows is not a comprehensive catalogue but a considered short-list, pitched at players who want to spend wisely.

How We Think About Value

The best 5-string banjo at any price point is one that plays in tune, holds its setup, and sounds honest. A poorly adjusted instrument at any budget will frustrate a developing player; a well-set instrument in even a modest range can carry someone a long way. Alongside each recommendation here, we have noted what it does particularly well and where it makes compromises.

Best Under £300: Deering Goodtime

The Goodtime is the instrument Deering makes for players who cannot yet justify spending more. It is a genuine five-string: maple pot, proper resonator (on the Goodtime Two) or open-back design, and Deering's well-regarded quality control. There is no tone ring — the remo head sits directly on the maple rim — but the sound is clear and honest, and the neck is comfortable. It will not give you the sustain and brightness of a bronze-tone-ring instrument, but it will not embarrass you either. For a first instrument, there is very little that competes at this price from a maker with this pedigree.

Best Mid-Range: Gold Tone IT-17 (Open-Back) and BG-150F (Resonator)

Gold Tone has carved a strong reputation in the five-string market by making instruments that play better than their price suggests. The IT-17 open-back is particularly well regarded in clawhammer and old-time circles: lightweight, warm-voiced, and genuinely playable from day one. The BG-150F sits at a similar price for players who want a resonator instrument suited to three-finger picking. Both come set up to play rather than requiring immediate adjustment, which matters more than most new buyers realise.

Best for Bluegrass: Recording King RK-R36

The RK-R36 offers a cast bell-brass tone ring at a price that would have seemed impossible a decade ago. Bell brass gives a bright, cutting attack — the sound associated with Earl Scruggs and the classic bluegrass recordings of the 1950s and 1960s. It is louder and more projecting than aluminium-ring or no-ring alternatives at the same price. If your goal is the traditional 5-string banjo sound of bluegrass festivals and jam sessions, this is where the money goes furthest.

Best for Old-Time: Ome Tupelo

Ome is a smaller Colorado builder whose instruments have a devoted following in old-time and folk circles. The Tupelo is their entry into the accessible range — still more expensive than the Goodtime or Gold Tone, but built with a care for tone and craft that marks it out. The open-back design, maple pot and carefully fitted head produce a warmth and responsiveness that rewards a clawhammer player working on their technique. It is an instrument that grows with you.

Best Investment: Deering Sierra or Eagle II

If budget extends to £1,000 or above and you are committed to the instrument, Deering's Sierra and Eagle II sit at the quality level where bluegrass professionals have worked for decades. A maple resonator, Remo head, fitted Deering tone ring, and quality hardware throughout. These instruments hold their value, respond to the full range of technique, and represent a commitment to the instrument rather than a trial. Buying one is a decision to stay.

A Note on Setup

Every instrument benefits from a professional setup, including new ones. Strings age in the packet; bridge positions drift; head tension settles. A luthier familiar with the instrument can transform an average-sounding new arrival into something genuinely enjoyable to play. The cost — typically £40–£80 in the UK — is well spent on any instrument you intend to keep.

The Bottom Line

The Deering Goodtime remains the most trusted entry point in the five-string market. Above it, Gold Tone and Recording King offer genuine quality at mid-range prices. Ome and Deering's upper range reward players who stay long enough to need them. For guidance on which type is right for your style, our complete buyer's guide covers every decision. For a full introduction to the instrument, see our overview. And for new players, our beginner's guide is the right place to start.

Frequently Asked Questions