I have heard nothing but good things about the Deering goodtime banjo. Obviously the Sierra has a resonator backing for volume while the Goodtime banjo does not (and the Sierra must be higher quality across the board).

I think that $400 is the max you would want to spend on a first banjo -- and the Goodtime banjo does seem to be more than acceptable on the quality side.

Now at bandcamp: Crows Say Vee-Eh @ bandcamp or soundcloud: Kevin @ soundcloud