The fifth peg hole holds the fifth string tuning machine, sometimes called the fifth peg. This is a hole in the side of the neck just above the fifth string bump out. Take a look at a fifth string machine tuner and you will likely find that it features a tapered and knurled shaft that will be presse

Banjo friction pegs were used to tune the instrument in its earlier days. As steel strings became more popular and machining techniques improved, friction pegs gave way to machine tuners. Today we still see friction pegs used on violins and cellos.

Banjo tuning pegs from Schaller, Leader and more including high quality geared and gold plated pegs. Eagle offer you a wide choice of banjo pegs from budget pegs to high quality geared pegs, you can even go gold plated.

Guitar Banjo Tuning Peg Machine 1930s From National Triolian Tenor Sold Each etsy.me/2MGo1NN via @Etsy
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Banjo tuning peg came and installed without much trouble. Life can go on now.
Bones Are Their Money, So Are The Worms

I just lost a spring off a $130 banjo tuning peg..
Motionless In White Castle

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Deering Banjos

#BestMusicInstrument Grover 118N Banjo 5th String Peg: Grover 118N Banjo fifth String Peg… goo.gl/fb/B5ODu9
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I favorited a YouTube video -- Quick and dirty 5th string banjo peg addition 3 http://youtu.be/hcS01gvAGkQ?a
John A Britton