It is an object of this invention to provide an inexpensive and high-quality disc changer by inserting a plurality of spacers and discs around a pair of spindles without the need for a stocker and subtrays. A vertical drive means drives a group of spacers (40) held by a disk holding means to select an arbitrary disc (12) from a group of discs (12), and a horizontal transfer means transfers it to a sound recording/reproduction position. An elevation return means prevents the disc (12) from slipping out from the spacer (40) on both spindles (19, 25). A disc presser means prevents the disc (12) from slipping out from the spacer (40). A spacer detachment prevention means prevents the spacer (40) from being detached from the lower spindle (19).