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Summary: The neck of a banjo can vary because each has different fret sizes. Learn more about the neck of a banjo in this free video from a professional banjo player.
"The next part of your banjo is the neck. Now the neck is covered in these little frets, which act to shorten the length of the string as you pluck. So when you pluck an open string, it's a certain length, and you shorten the length of the string, by holding down a fret. Different banjos have different size frets. Older time banjos have smaller frets, like this one. But sometimes you can find banjos with jumbo frets. Some Gibsons are like that. These are your tuning pegs. Which act to increase or decrease the tension on the strings. Up here is your fifth string peg. Which is, makes your fifth string shorter than all the rest of your strings because it's up here at the fifth fret. This part is the nut which the strings run over before heading down toward this side of the banjo. The nut is pretty important because it decides how far your strings are spaced apart, and also how high they are of the fret board. If your strings are really high off the fret board, it'll be really hard to play your banjo. At the same time, if they're too low, they'll buzz against the frets, and it won't sound very good."
eHow Article: Parts of a Banjo Neck