Standard Change Makers
3130 N. Mitthoeffer Road, Indianapolis, Indiana, 46236, United States
James R. McNutt, Sr. founded Standard Change-Makers, Inc. in 1955 as an affiliate of the Nik-O-Lok Company, the world's largest manufacturer of coin-operated locks. Mr. McNutt’s grandfather, Charles Van Cleave, founded Nik-O-Lok in 1910. Both companies operated out of the same facilities, headquartered in Indianapolis, Indiana. In 1965, Standard Change-Makers became a separate corporation, and eventually Nik-O-Lok became a division of Standard Change-Makers, Inc. Both companies are still in full operation, still family-owned and still a privately held corporation.
In the beginning, having seen a need in the vending industry, Jim McNutt, Sr. began with a simple mechanically operated coin changer that would return either five nickels or two dimes and a nickel for a quarter. The original machine sold for a retail price of $89.50! There have certainly been many innovations and technological improvements incorporated since the early mechanical designs!