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Thanx guys for the effort and suggestions. The one I was thinking of is if you can imagine, a washer about 1=1/4 inch in diameter that is notched about 8 times around the edge. The center hole is rolled up a little and threaded with like a 3/8-16 thread that is first spun down on a threaded stud. The mounting plate goes over the stud and rests on this "star nut". the depth of the panel is then adjusted with a screwdriver via the notches sticking out from behind the mounting plate, One the proper depth is set via the "star nuts", a regular washer and nut is spun on and tighten down to secure everything into place.

sparkyinak:
An outside shot of a possible source may be a panel fab here in NJ...Gavin Graham Co.

www.gavingraham.com

If you can’t find what you’re looking for, what about maybe taking a stack of the large washers with an oversized bolt hole and notching them in a star pattern on a band saw, then spot welding flat round speed nuts [A.K.A. Tinnermans nut] with the needed thread size centered in the oversized bolt hole.
The flat round speed nuts I’m referring to are at the bottom of this page.
Flat Round Speed Nuts

They also make what are called flat anchor nuts and flat weld nuts, but they aren’t exactly what I would call flat, so don't know if they would work.
Flat Anchor Nuts
Flat Weld Nuts

Thanx for the thoughts ans suggestions. Im gonna likly buy an acetylene set tomorrow. Its a good excuse to buy cool tools arrr-ARRR-Arrrrrr!!!. Plan is like KJay mentioned. Im gonna braze a BA fender washer on a nut and notch it with a bandsaw then paint them with cold galvinize paint. Ill post pics on my pic account

A machine shop with a circle punch into 1/8 flat mild steel and drill and tap the center. Or find an extrat thick washer that you can tap.

I was looking for some screws on McMaster’s website this morning and stumbled across these large weld nuts that may possibly work for your project. It’s item 98007A029 on page 3216 of their online catalog. They say these are 1-1/2-inch diameter and only 7/32-inch thick for the 1/4-20 size or 1/8-inch thick for the 10-32 size. They are also stainless steel.

The edges look like they have squared areas that you might be able to catch and turn with a flat blade screwdriver. If not, maybe a bent tip awl or O-ring removal tool could be used in the holes to turn them instead.
Large Weld Nuts

Is there a reason that you couldn't use standard 3/8-16 hexnuts and fender washers?

I can't use a standard nut because I may not be able to able to reach the nut to adjust it if needed. Kjay, you may be onto something, Thanx!

Well, after running out of time and despite some great suggestions, I was not able to find a ready made nut so I broke down and made some. Besides here, I hit up my engineering co-workers and couldn't come up with something. Finally on the last day and the second to last step, a coworker came up and said couldn't I just cut out some aluminium disks like 3/8" to 1/2" thick then tap the center? That would have worked perfectly but I wouldn't had the excuse of buy a gas welder...

link to pics

I brazed 1/2" flange nuts onto 1/2" x 2" fender washers. It was very hard getting even heat as you can see on the unpainted fender washers but I did get some good pentetration. 20 plus years of no brazing didn't help either. I then cut the knotches with a bandsaw then spray painted with cold Galvanize paint.

With the panel installed, you can see how the nuts can be adjusted after installation. I have about a +- 1/4" of play for the panel.

Thanx again for everyones input

Sparkyinak:
Nice work!! Did ya happen to try Gavin Graham?
They used that type nut in a lot of their panels, & control panels years back.