A key cutting machine for the cutting of keys includes a spindle adapted to be driven rotatably about an axis thereof. The spindle has an axially extending throughbore. A milling cutter is selectively mountable in the throughbore for corotation therewith. A carriage for supporting a clamp assembly is movable relative to the spindle in a plane that is orthogonal relative to the axis. A key blank is clamped in the clamp assembly for cutting by the milling cutter. A securing mechanism is disposed on the spindle for rigidly mounting the milling cutter to the spindle when the milling cutter is positioned adjacent a first spindle end. A stem is selectively receivable in the throughbore by axial insertion into a second spindle end to position the milling cutter adjacent the first spindle end. The stem is removable from the throughbore after the milling cutter is rigidly mounted to the spindle by the securing mechanism.