A rekeyable lock cylinder comprising: a cylinder body having a longitudinal axis and defining a longitudinally spaced, radially-aligned first plurality of pin chambers, each of said first plurality of pin chambers adapted to house a corresponding first pin, said cylinder body further defining a longitudinally extending slot therethrough; and a plug assembly disposed in said cylinder body, said plug assembly comprising a plug body defining a second plurality of pin chambers, each of said second plurality of pin chambers adapted to house a corresponding second pin, said plug body rotatable within said cylinder body between a first position and a second position, said first position aligning said second plurality of pin chambers with said first plurality of pin chambers, said second plurality of pins removable from said second plurality of pin chambers when said plug body is in said second position.