Abstract: A punch change retainer for positioning a floating punch in a retracted, disengage position and an extended, engage position. The change retainer includes a change retainer body and a punch retainer receiving aperture extending upwardly through the change retainer body from a bottom surface thereof. A gagging member is located in the change retainer body and is actuable by an actuator between a retracted position distal from a nose portion of the change retainer body and an extended position adjacent the nose portion of the change retainer body. A floating punch retainer is receivable within the punch retainer receiving aperture, and includes an upper end positioned for engagement with the gagging member. A punch receiving hole is defined in the floating punch retainer; where the punch receiving hole is adapted to be rotatably positioned about a longitudinal center line of the floating punch retainer within the punch retainer receiving aperture.