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"How To" Banjo 5th Peg Rebush
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Banjo 5th pegs get damaged all the time, sometimes even the mounting hole gets damaged.

This Banjo has definetly been damaged and epoxied and still it does not work, so we are going to graft a wood bushing in place

Time to repair approx 2 hrs over 3 days (glue / paint drying times)
Smothered in dry epoxy.
Lets remove the Body so we have easier access to working on the neck.
Removed neck.
Yuck, yuck and yuck.
The new 5th peg is 9.42mm diameter.
The existing hole extends out to at least 10.71mm
I am going to open the hole up to 13mm with a machine reamer.
Machine reamers are good because they only open holes, they do not make them deeper.
One Banjo,
The bushing is so loose it comes out in my hand.

Attached tutorial on how to pull and refit 5th pegs.
Oh my, the hole is a mess and someone has replaced the 5th nut with some plastic and drilled through the whole neck.
I have three different Mahoganys on hand from different locations around the world, each with its own unique colour,  best colour match is no 3.