A banjolin is a musical instrument resembling a small banjo but tuned like a mandolin.
banjolin
It would depend upon the manufacturer and condition.
I could be wrong, but I believe it's not a banjo but is called a banjolin. It's like a mandolin but with a banjo body. Hope this helps =)
They use a very wide variety of instruments. Marcus primarily plays the acoustic guitar, bass drum, and tambourine with his feet using kick pedals, but I've also seen him play a full drumset and I've seen him play piano, mandolin and resonator guitar. Ben primarily plays piano or keyboard and the accordian, as well as small percussion like shakers. Winston generally plays banjo and resonator guitar, ocassionally the electric bass, and on very rare occasions, the wonderful instrument that is the banjolin (mandolin/banjo combination). Ted plays the upright bass and electric bass and drums for a few tracks, such as Thistle and Weeds. All four members sing. They also have a few people come in on horns and violins for songs like White Blank Page and Winter Winds. They are all very well rounded musicians.