Getbackjojo - Posted - 01/07/2026:  10:20:44

Hello all!
I am interested in knowing the approximate date of manufacture for a Gibson Mastertone tenor banjo, possibly TB-3, and supposedly with serial number 1012-3. The banjo is on an auction site with several photographs, but no photos of inside the resonator or back of the headstock. It obviously has an archtop tone ring. Can the rim be converted to a flat head tone ring? What type of flange might this banjo have? Any help in answering these questions will be greatly appreciated!

banjo and case

flange and partial serial number

back of resonator

 

Lemon Banjos - Posted - 01/07/2026:  10:41:50

There are two "litter mates" to that banjo on the Earnest Banjo website - 1012-5 and 1012-8 - both of which are stated to be from 1936. Here are links to each one: 

Gibson TB-3 1012-5 

Gibson TB-3 1012-8

1012-5 was shipped to Indianapolis, IN on December 9, 1936, and 1012-8 was shipped to Cincinnati, OH on December 11, 1936. So it'd be safe to say that the one in that online auction was also shipped in December - although who knows where it was shipped.

As for your other questions, that banjo can have a conversion ring installed, such as the Sullivan (linked here), and it has a one piece flange, as is typical of prewar Gibsons starting in late 1929.

Edited by - Lemon Banjos on 01/07/2026 10:45:09

RioStat - Posted - 01/07/2026:  10:47:09

Here's a "litter-mate" to the banjo you're interested in.

TB-3 from 1936

earnestbanjo.com/wp/gibson-tb-...e-1012-8/

Yes, the rim can be cut down to accommodate a flathead tone ring, but then you have a butchered up 90 year old Gibson. Remember, any old wood that gets removed from the rim, can never be put back on.

Just buy it, put a 5 string neck on it, and you'd have a fine (archtop) Bluegrass banjo.

EDIT: Looks like Hunter and myself were posting at the same time !!

Edited by - RioStat on 01/07/2026 10:49:05

Getbackjojo - Posted - 01/07/2026:  10:54:15

Thank you! This is very interesting and helpful information!

Getbackjojo - Posted - 01/07/2026:  11:04:44

In its present condition, what might be a reasonable estimate of its value?

RB-1 - Posted - 01/07/2026:  11:46:54

Converting that 1936 TB-3 to a flathead 5 string certainly would be worth the effort. 

Proof: youtube.com/watch?v=1w_a7zHPG-s (flathead conversion). 

The one in the auction is about a year older than my RB-1 flathead conversion.  One of the best decisions of my life....

Roughly, the post-1935 flanges are a bit sturdier than the earlier ones.

Still I'd always ask for pictures so you can judge the amount of curl up, but the odds are with you.

ChunoTheDog - Posted - 01/07/2026:  12:36:53

quote:

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Originally posted by Getbackjojo

In its present condition, what might be a reasonable estimate of its value?

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About $3000 if in great shape and all original parts are there 

Nice period-correct 5 string neck from a reputable builder will be another 1500 to 2000

The Old Timer - Posted - 01/07/2026:  15:27:39

One other choice to make it a flat head without cutting the rim is to buy an arch-to-flat head conversion ring which fits on your existing rim with no more than minimal sanding to adjust ring fit.

This same banjo would be a TB 3 only if it were about 6 years older. Gibson renamed their basic banjo model from 3 to 75 as part of the Depression-driven reduction in Manufacturer's Suggested Retail Price, around 1935. Yup, after 1935 or so this model sold for $75; big reduction from the glory days.

BanjoLink - Posted - 01/08/2026:  06:33:55

quote:

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Originally posted by ChunoTheDog

quote:

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Originally posted by Getbackjojo

In its present condition, what might be a reasonable estimate of its value?

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About $3000 if in great shape and all original parts are there 

Nice period-correct 5 string neck from a reputable builder will be another 1500 to 2000

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Antoine ..... I think you are a little off on your value.  This is a one-piece flange banjo and the value should be at least twice what you suggested ..... probaby a tad more even.

ChunoTheDog - Posted - 01/08/2026:  06:44:42

quote:

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Originally posted by BanjoLink

quote:

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Originally posted by ChunoTheDog

quote:

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Originally posted by Getbackjojo

In its present condition, what might be a reasonable estimate of its value?

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About $3000 if in great shape and all original parts are there 

Nice period-correct 5 string neck from a reputable builder will be another 1500 to 2000

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Antoine ..... I think you are a little off on your value.  This is a one-piece flange banjo and the value should be at least twice what you suggested ..... probaby a tad more even.

6K for an archtop tenor style 3 is absurd

kyleb - Posted - 01/08/2026:  09:05:11

FYI this is up for auction, since i had the first bid and did my own homework, i wanted to share the link for those of you are doing Marc's homework for him. hibid.com/lot/280883981/gibson...ing-banjo

kyleb - Posted - 01/08/2026:  09:06:17

quote:

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Originally posted by ChunoTheDog

quote:

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Originally posted by BanjoLink

quote:

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Originally posted by ChunoTheDog

quote:

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Originally posted by Getbackjojo

In its present condition, what might be a reasonable estimate of its value?

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About $3000 if in great shape and all original parts are there 

Nice period-correct 5 string neck from a reputable builder will be another 1500 to 2000

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Antoine ..... I think you are a little off on your value.  This is a one-piece flange banjo and the value should be at least twice what you suggested ..... probaby a tad more even.

6K for an archtop tenor style 3 is absurd

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might be to you but thats what these are going for retail these days, slap a 1k neck on it, youve got an 8000 to 10000 dollar banjo. you cant hardly get a 2pf style 3 archtop for under 3500 anymore. 

Edited by - kyleb on 01/08/2026 09:14:27

BanjoLink - Posted - 01/08/2026:  10:58:40

quote:

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Originally posted by ChunoTheDog

quote:

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Originally posted by BanjoLink

quote:

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Originally posted by ChunoTheDog

quote:

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Originally posted by Getbackjojo

In its present condition, what might be a reasonable estimate of its value?

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About $3000 if in great shape and all original parts are there 

Nice period-correct 5 string neck from a reputable builder will be another 1500 to 2000

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Antoine ..... I think you are a little off on your value.  This is a one-piece flange banjo and the value should be at least twice what you suggested ..... probaby a tad more even.

6K for an archtop tenor style 3 is absurd

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Antoine ...... you are way behind the times. Nice examples of these banjos were selling for 8-10k ten or more years ago. I think the last decade or more they may have even dropped a little. 

kyleb - Posted - 01/08/2026:  12:41:23

Greg earnest just listed a 32 rb3 arch top for 9k

Getbackjojo - Posted - 01/08/2026:  13:30:36

Thanks for posting the link to the auction. That does it for me. I'm out now. Good luck to the winner!

DSmoke - Posted - 01/08/2026:  15:13:58

quote:

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Originally posted by Getbackjojo

Thanks for posting the link to the auction. That does it for me. I'm out now. Good luck to the winner!

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Don't be upset that a link was posted. You mentioned it was on an action site, and I guarantee you there are thousands of banjo lovers searching those pages daily/weekly. I saw it yesterday and have the auction saved in my calendar.  Next time, don't mention that it's on an auction site if you don't want everybody here knowing.

GStump - Posted - 01/12/2026:  06:35:29

The banjo is worth closer to 10K. It will probably fetch between 9 and 10K.

Getbackjojo - Posted - 01/12/2026:  10:46:14

If this is true, $9-10K, then I'm better off being out. I can't afford it. I'll be very interested to see what this banjo brings. The buyer's premium will be an additional $500, at least. Then shipping. New neck, etc. Perhaps down the road a few years, it will have been worth it.

Just wondering, does anybody here know what has happened to Jim Mills' banjos?

eljimb0 - Posted - 01/13/2026:  02:46:48

Thanks for the auction link. It is nice to watch the bidding happen publicly in a wide open way. I hope it goes all the way to the end, and not with all the information buried in some behind the scenes "buy it now price." This is a good concrete answer for what are these things going for .. today. BTW that is a nice banjo.

BanjoDaddio - Posted - 01/19/2026:  14:43:59

Banjo dealers/fippers/banjo consigners will all be bidding on it and can afford to even pay more for it because they have the $$$ to wait as long as it takes to get a nice profit out of it down the pike. So, keep track of the serial number and see where this example will wind up and for how much. Banjo flippers, banjo consigners etc. Will always ask the most if they wind up with it. Then, if somebody actually buys it at their price, that establishes the market value. So, if you’re an individual player and want a nice instrument like this one to keep original or to convert to a five string, whatever, you might want to consider doing the same? Just overpay to acquire it. Better to overpay now than to overpay a dealer later. My thought is you’d be saving money in the long run….. Just my 2c worth opinion….Oh, I forgot, They don’t make them anymore. Just make it my five cents worth.

lazyarcher - Posted - 01/20/2026:  08:12:01

Its at $4K right now. As far as resale..$1500 for a new neck and fitting, $600 for a conversion flathead tone ring, or $1000 for a full weight tone ring and rim cut/fitting, $500 for a case...so somewhere between $2600-$3000 to convert to a 5 string bluegrass flathead. You can buy one already converted for $8-9K, so to break even you need to get the tenor for between $5-6K. It would be a nice banjo.

O.D. - Posted - 01/20/2026:  09:04:15

Find a nice 2 piece flange mastertone
They are better built and not as expensive.
Any banjo is only as good as the person playing it.
Good luck
E

kyleb - Posted - 01/21/2026:  07:16:49

quote:

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Originally posted by lazyarcher

Its at $4K right now. As far as resale..$1500 for a new neck and fitting, $600 for a conversion flathead tone ring, or $1000 for a full weight tone ring and rim cut/fitting, $500 for a case...so somewhere between $2600-$3000 to convert to a 5 string bluegrass flathead. You can buy one already converted for $8-9K, so to break even you need to get the tenor for between $5-6K. It would be a nice banjo.

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This isn't true, you cant find a one piece flange style three conversion for 9k. You cant even find a tenor for that price. 

lazyarcher - Posted - 01/21/2026:  07:26:24

banjobarn.com/banjo/113398
They are around, you just have to watch for them or know people active in the prewar market.

kyleb - Posted - 01/21/2026:  07:39:11

lol what decade did that sold in? Wasn’t recent. Also.. this has a replaced flange and other problems. Try again.

Edited by - kyleb on 01/21/2026 07:40:15

BanjoLink - Posted - 01/21/2026:  08:15:20

I've seen both converted ones and unconverted from 8K - 11K with the converted one closer to the higher end (both with uncut rim and conversion ring and cut rims with flathead rims). The price really depends on the condition, as an pristine uncut original should be 8 - 10. Of course, just because you spend $2500 to $3000 to convert it does not necessarily mean that you will add that much value in a resale.

eljimb0 - Posted - 01/27/2026:  02:03:26

hibid.com/lot/280883981/gibson...ing-banjo .... it seems to be holding at 4 with just a few days to go. The snipers are taking aim, keeping their powder dry. :)

kyleb - Posted - 01/27/2026:  06:55:14

it would be cool if i got this for 4k.

BanjoLink - Posted - 01/28/2026:  07:25:48

quote:

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Originally posted by kyleb

it would be cool if i got this for 4k.

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Sure would be, but it is already up to over $7000 with buyer's premium.  Guessing it will go closer to 10k with buyers premium.

kyleb - Posted - 01/28/2026:  08:31:53

quote:

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Originally posted by BanjoLink

quote:

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Originally posted by kyleb

it would be cool if i got this for 4k.

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Sure would be, but it is already up to over $7000 with buyer's premium.  Guessing it will go closer to 10k with buyers premium.

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buyers premium is 20%, 20% of 4000 is $800. I would love to get this banjo for $4800.

BanjoLink - Posted - 01/28/2026:  09:18:06

quote:

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Originally posted by kyleb

quote:

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Originally posted by BanjoLink

quote:

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Originally posted by kyleb

it would be cool if i got this for 4k.

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Sure would be, but it is already up to over $7000 with buyer's premium.  Guessing it will go closer to 10k with buyers premium.

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buyers premium is 20%, 20% of 4000 is $800. I would love to get this banjo for $4800.

 

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The next bid will have to be $6000 and with 10% buyers Premium that is $7200, which also does not include tax and shipping, so you are looking at more like $7700.  I'm still betting close to 10k when all is said and done.

Old Hickory - Posted - 01/28/2026:  09:54:41

quote:

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Originally posted by BanjoLink

The next bid will have to be $6000 and with 10% buyers Premium that is $7200, which also does not include tax and shipping, so you are looking at more like $7700.

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?

It's still at $4,000.

Bid increment from $2,499.01 to $4,999.99 is $250.

So next bid is $4,250.

At $5,000, the increment goes to $500.

BanjoLink - Posted - 01/28/2026:  11:47:27

quote:

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Originally posted by Old Hickory

quote:

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Originally posted by BanjoLink

The next bid will have to be $6000 and with 10% buyers Premium that is $7200, which also does not include tax and shipping, so you are looking at more like $7700.

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?

It's still at $4,000.

Bid increment from $2,499.01 to $4,999.99 is $250.

So next bid is $4,250.

At $5,000, the increment goes to $500.

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I'm not sure what you are looking at (liveauctioneers.com/item/22353...ertone-4-string-banjo-valparaiso-in) but the bid is $5500 with an increment of $500, so the next bid will have to be $6,000 as I stated earlier.

Old Hickory - Posted - 01/28/2026:  14:15:25

quote:

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Originally posted by BanjoLink

 

I'm not sure what you are looking at (liveauctioneers.com/item/22353...ertone-4-string-banjo-valparaiso-in) but the bid is $5500 with an increment of $500, so the next bid will have to be $6,000 as I stated earlier.

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I'm looking at the link shared earlier on this second page of discussion:   hibid.com/lot/280883981/gibson...ing-banjo    Maybe it's a different link to the same auction that's not updating. I'm clearly not seeing the same thing.

Pigeontown Banjo Co - Posted - 01/28/2026:  14:45:23

It is a really clean style 3...bet it will make a honkin' conversion.

BanjoLink - Posted - 01/28/2026:  15:28:57

quote:

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Originally posted by Old Hickory

quote:

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Originally posted by BanjoLink

 

I'm not sure what you are looking at (liveauctioneers.com/item/22353...ertone-4-string-banjo-valparaiso-in) but the bid is $5500 with an increment of $500, so the next bid will have to be $6,000 as I stated earlier.

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I'm looking at the link shared earlier on this second page of discussion:   hibid.com/lot/280883981/gibson...ing-banjo    Maybe it's a different link to the same auction that's not updating. I'm clearly not seeing the same thing.

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Probably so!

BanjoLink - Posted - 01/29/2026:  05:39:16

quote:

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Originally posted by Old Hickory

quote:

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Originally posted by BanjoLink

 

I'm not sure what you are looking at (liveauctioneers.com/item/22353...ertone-4-string-banjo-valparaiso-in) but the bid is $5500 with an increment of $500, so the next bid will have to be $6,000 as I stated earlier.

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I'm looking at the link shared earlier on this second page of discussion:   hibid.com/lot/280883981/gibson...ing-banjo    Maybe it's a different link to the same auction that's not updating. I'm clearly not seeing the same thing.

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Ken ..... for some reason that site is all messed up.  I checked this morning and it said the high bid was $3750, but would only let you bid if you bid $5500 or higher.  I opened it in another window and it would let you bid $4000 or higher.  I have no idea what is going on, but am still guessing it will wind up closer to 10k.

Old Hickory - Posted - 01/29/2026:  08:06:25

quote:

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Originally posted by BanjoLink

 

Ken ..... for some reason that site is all messed up.  I checked this morning and it said the high bid was $3750, but would only let you bid if you bid $5500 or higher.  I opened it in another window and it would let you bid $4000 or higher.  I have no idea what is going on, but am still guessing it will wind up closer to 10k.

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The version I was looking at is now up to $4250. The one at your link is $6500.

Lots of same information, including item location and Lot #, so I assume (hope) it's two views of the same auction. But suggesting otherwise, besides the prices, are the two different numbers of bidders.

Makes me wonder if one of them is a scam. But I have no skin in the game so personal need for due diligence.

As to the banjo: I know way too little about the values of different pre-war 4-stringers. Is it the one-piece flange and this being a 75 that drives the value? I assume it's a 75, from the headstock and inlay. But it's an archtop, which I thought didn't draw the big bucks.

kyleb - Posted - 01/29/2026:  08:16:44

bid increment is 250 up to 6k and then goes to $500. its now at 4250. i agree itll sell for close to 7.

BanjoLink - Posted - 01/29/2026:  08:23:10

quote:

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Originally posted by Old Hickory

quote:

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Originally posted by BanjoLink

 

Ken ..... for some reason that site is all messed up.  I checked this morning and it said the high bid was $3750, but would only let you bid if you bid $5500 or higher.  I opened it in another window and it would let you bid $4000 or higher.  I have no idea what is going on, but am still guessing it will wind up closer to 10k.

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The version I was looking at is now up to $4250. The one at your link is $6500.

Lots of same information, including item location and Lot #, so I assume (hope) it's two views of the same auction. But suggesting otherwise, besides the prices, are the two different numbers of bidders.

Makes me wonder if one of them is a scam. But I have no skin in the game so personal need for due diligence.

As to the banjo: I know way too little about the values of different pre-war 4-stringers. Is it the one-piece flange and this being a 75 that drives the value? I assume it's a 75, from the headstock and inlay. But it's an archtop, which I thought didn't draw the big bucks.

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Ken, it is either a TB-3 or TB-75 depending on the date (haven't looked up the serial number if it is there) .... really they are the same except the designation was changed to reflect a cheaper price when new ($75).  It's probably a 9-10K banjo because of the one-piece flange and archtop ring, otherwise it would be a 35-50K banjo with a flathead ring ....... yep a 25k+ premium for a flathead ring.  Right now Greg Earnest has one for sale that looks pretty nice for 9k and Jim Britain (Ceres) has a very clean conversion (5 string neck and conversion flathead ring) for 14k.

BanjoLink - Posted - 01/29/2026:  09:24:57

Current Bid is $8500, so the next bid will have to be $9000 .......sure hope the bidderis figuring in buyer's premium, tax, and shipping. This could get expensive!

Old Hickory - Posted - 01/29/2026:  09:32:30

quote:

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Originally posted by BanjoLink

It's probably a 9-10K banjo because of the one-piece flange and archtop ring, otherwise it would be a 35-50K banjo with a flathead ring ....... yep a 25k+ premium for a flathead ring.

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Thanks. Especially for the clarification of 3/75. Now I know why I could never tell them apart!

I saw several conversions in the $5K-$6K range (if I'm remembering correctly) at Gruhn's in October '24. These were probably two-piece flange and maybe ball bearing instead of cast archtop. I can't recall if they had flat or round hooks. Maybe some of each. All had Neat necks, not necessarily inlaid to match the original models of the pots.

So the features of these explain their lower prices and desirability?

GStump - Posted - 01/29/2026:  09:39:07

Well unless I'm missing something, the auction for this TB 3 has ended, just minutes ago. It ended at a final winning bid of 10,000 dollars. Add in the 20% buyers premium and the final price ends up being 12K! Plus shipping, taxes, fees, etc.!

BanjoLink - Posted - 01/29/2026:  09:39:08

quote:

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Originally posted by Old Hickory

quote:

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Originally posted by BanjoLink

It's probably a 9-10K banjo because of the one-piece flange and archtop ring, otherwise it would be a 35-50K banjo with a flathead ring ....... yep a 25k+ premium for a flathead ring.

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Thanks. Especially for the clarification of 3/75. Now I know why I could never tell them apart!

I saw several conversions in the $5K-$6K range (if I'm remembering correctly) at Gruhn's in October '24. These were probably two-piece flange and maybe ball bearing instead of cast archtop. I can't recall if they had flat or round hooks. Maybe some of each. All had Neat necks, not necessarily inlaid to match the original models of the pots.

So the features of these explain their lower prices and desirability?

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Yes Ken ....... those at Gruhn's had to be 2-piece flanges.  Seems like the one piece flange archtop Mastertones, both tenors and converted, have remained about the same price for the last 15 years.

Edited by - BanjoLink on 01/29/2026 09:40:22

BanjoLink - Posted - 01/29/2026:  11:25:33

quote:

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Originally posted by GStump

Well unless I'm missing something, the auction for this TB 3 has ended, just minutes ago. It ended at a final winning bid of 10,000 dollars. Add in the 20% buyers premium and the final price ends up being 12K! Plus shipping, taxes, fees, etc.!

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Gregg ..... after all said and done about $12,750 !

kyleb - Posted - 01/29/2026:  13:48:12

so we were all wrong on value, if this one sold a auction for 12k, whats retail price?!

Getbackjojo - Posted - 01/29/2026:  14:38:22

The owner now has nearly $13K invested in a 4-string tenor banjo. Assuming a new 5-string neck, a flathead conversion tone ring, a nice vintage tailpiece, and a new case, we're looking at easily $15K, maybe $16K. Of course, it could be left as an archtop, saving the cost of a tone ring.

BanjoLink - Posted - 01/29/2026:  14:46:56

quote:

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Originally posted by kyleb

so we were all wrong on value, if this one sold a auction for 12k, whats retail price?!

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Well, Jim Britain has a really clean one with a conversion ring (rim not cut) and a Frank Neat neck for $1400, so that is a good place to start.  I know ones that are nice, but not quite as nice as Jim's have been for sale recently for 10 - 12.

eljimb0 - Posted - 01/29/2026:  23:16:46

I guess we all know what a decent arch top tenor is worth today.