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The 5th string on Banjos can have Spikes fitted under the string , this is to allow the string to be placed into a fretted position, just like a capo on your guitar across all strings, except its specific for a Banjos 5th string.

It is important to ensure you the repairer or the customer know what they want, the Spike can be fitted so the head is facing downwards or upwards, also everyone has different positions to be spiked.

Time to modify approx 30 minutes
Add masking tape to protect the board from tearout, this also allows us to mark our drill positions.
We draw a line along the bottom edge of the string, this is the position we drill into if we want the spikes to face upwards.
Measure the gap between the frets.
Divide that gap by three, place a line parrallel to the fret.
Using a 0.7mm drill bit, we insert it into the drill to 3/4 of the depth of the spike.
In this photo you can see an additional set of lines above the original ones drawn, this is because the customer wishes for the spikes head to face downwards.
Drill all four holes on the top line for downward facing spikes.
Remove tape and we have 4 cleanly drilled holes.
The customer has used a red marker to identify which frets they wish to have spiked 7/8/9/10.
Before we start, we need to make sure the outer strings are running evenly down the neck, here they are not.

We either move the bridge or identify and repair the problem before modifying the fretboard.
Follow up check the 5th string, is running parallel along the fretboard edge.
Apply a small drop of supeglue to each hole.
"How To" Install Banjo Spike