This freestanding selectable free weight assembly includes an annular handle assembly that supports a weight set about each end. Each weight set includes end wedge assemblies with slanted interior faces and a set of slanted weight plates are sandwiched between the inner and outer slanted end wedge assemblies. Selectively movable rods are housed within the annular handle assembly. The user can actuate the movable rods to move underneath and support a defined number of weight plates to control the amount of weight disposed about each end of the handle. The weight plates are interconnected by a tang projecting to the side of each plate where each tang is adjacent to a locking slot. Each tang fits into a locking slot of each adjacent weight plate.