A weight bar system includes a weight bar, and two lock collars on each end of the weight bar for holding one or more weights on each end of the weight bar. The ends of the weight bar include circumferentially positioned grooves. A locking collar is engageable with the grooves both in an unlocked and a locked position. The locking collar includes a main body collar including pins which extend in a cross direction relative to the axis and are moveable radially inwardly and outwardly relative to the grooves. A rotatable collar includes a cam surface to move the pins radially inwardly to lock the locking collar to the weight bar. A stationary collar may also be provided to limit rotation of the rotatable collar, and to provide a gripping surface. A space on the lock collar may be provided to press against the weights.