Universal adjustable lift/drop hitch

A new and simple hitch assembly comprising a vertically adjustable bar (vertical bar) secured within a mounting sleeve which in turn is securely attached to a hitch bar. A vertical securing pin releasably engages the vertical bar and is maintained in place by a spring, the pin and spring comprising the vertical securing mechanism. The hitch assembly mates with standard hitch receivers such that the relative height of a hitch ball may be varied. The hitch assembly is easy to manufacture and is durable, strong, and stable during towing. Such a hitch assembly is of simple design and has few movable parts. Such a hitch assembly is also compact and has a large range of height adjustment as it is mountable in alternative vertical orientations. The vertical bar has a series of holes in which the vertical securing pin is engaged.