I feel like bluegrass banjos really start to get good around $1K, around the price of a Recording King RK-35/36 (although you can get them for less used). Below that there are a lot of compromises. My first banjo was a Fender that I paid $350 for many years ago, and most of that was education in what not to look for in a banjo. Whereas with guitars, there are $250 Yamahas that could be lifetime guitars.
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