This banjo is a bit of a conundrum. BY all appearances it is a 1932 Gibson Mastertone 5-string banjo. It's serial number/FON is 9865-8 which corresponds to 1932 and the interior oval Gibson Mastertone label is period correct. It has a flamed Maple bound resonator, which Gibson sometimes used in that era and the Flying Eagle neck pattern was also made back then. The one-piece cast flange is unmarked but many of the Dohler flanges were unmarked back then. There are no nibs on the neck binding, but this instrument was likely re-fretted at some point and nibs are often filed off during re-frets. But the different tarnish levels of the metal parts and the thicker neck finish are somewhat suspect. So we are calling this a parts banjo and pricing it accordingly. The banjo is in good playing condition with a nice low bluegrass action. There are some finish cracks on the neck and peghead and some stable finish and/or neck cracks near the 5th string tuner but it is solid with no movement. Comes with a hard case in good condition.