Your banjo was made by Gretsch in 1963. The serial number is a Gretsch "guitar" number as Gretsch commingled guitar and banjo numbers starting in the early 1960's for the folk models so you can look it up in Gruhn's Guide or other serial number chart..
Yours is sort of a budget example of the Gretsch Folk model which had 20 brackets and "Gretsch" printed on a plastic headstock overlay but your model has only 16 brackets and no "Gretsch" brand on the peghead. I do not know the particulars about why Gretsch produced this particular entry level Folk model but it was extant during the Kingston Trio folk era of the early 1960's so maybe Gretsch wanted a lower price model available in the market in those times.
Edited by - beezaboy on 08/19/2019 03:30:58
I believe I found your banjo or something very much like it in the 1962 Montgomery Ward Catalog item No. 8 Wards' number 62 A 8436 MO attached.
Reminds me of a Gretch of some kind. There is one with a similar peghead which I believe was made in the 50s.
Thank you all for your help
'Good Saturday Morning' 3 hrs
'I'll Fly Away.' 7 hrs
'The man with the banjo' 9 hrs
'Johnson Boys (TOTW)' 12 hrs
'Loose screws in box' 12 hrs