Tap on the nut to drive it upwards, then, insert a thin screwdriver into the slot to pry collar loose. Not too much pressure or it may crack.
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Router bit won’t budge
My 1/2 inch router bit is fully stuck in the collet alongside the nut. I’ve tried torching it tapping it on its side, WD40, putting it back in the router but it doesn’t budge. Does anyone else have any suggestions?
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@xavceg Try the tapping first. You might also try putting a screwdriver against the collet and tap it lightly. Not the nut, but he part of the collet that's peeking out from under the nut.
Don't overdo it, you're just tapping to get it to release. In this pix of a collet and nut, you can see what's inside the nut. The difference between tight and loose is a few thousandths of an inch. Do not lubricate this, or if you do, soak and clean it thoroughly before using it. If you damage the collet it could be dangerous to use. Gentle persuasion, tap, tap, tap.
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The nut pushes the collet down into the spindle, which compresses it around the bit's shank. It's not a good idea to force or over-tighten the nut. Some of the older collets were much simpler, which I suspect required more tightening than the modern ones to hold on to the 22,000 rpm chunk of steel.
Don't overdo it, you're just tapping to get it to release. In this pix of a collet and nut, you can see what's inside the nut. The difference between tight and loose is a few thousandths of an inch. Do not lubricate this, or if you do, soak and clean it thoroughly before using it. If you damage the collet it could be dangerous to use. Gentle persuasion, tap, tap, tap.
The nut pushes the collet down into the spindle, which compresses it around the bit's shank. It's not a good idea to force or over-tighten the nut. Some of the older collets were much simpler, which I suspect required more tightening than the modern ones to hold on to the 22,000 rpm chunk of steel.
That just looks to be great fun. 
. If you want to use temperature, an old boy showed me how to do that by heating it up pretty toasty (not so hot you lose temper), then immediately quenching with ice water. That should shake loose any adhesions. If you want to go the chemical route, the BEST I've ever found is called Sili-Kroil, made by the Kano Corporation. Definitely clean all that off before expecting it to hold another bit in there. Once out, I'd be checking for any minute little burrs on either the bit or collet. 1000+ grit wet or dry sandpaper can help with that. And finally, as others have surely pointed out, never put the bit shaft all the way to the bottom of the collet assembly, always leave about 1/8"to prevent this foolishness from recurring. Good success to you!
. If you want to use temperature, an old boy showed me how to do that by heating it up pretty toasty (not so hot you lose temper), then immediately quenching with ice water. That should shake loose any adhesions. If you want to go the chemical route, the BEST I've ever found is called Sili-Kroil, made by the Kano Corporation. Definitely clean all that off before expecting it to hold another bit in there. Once out, I'd be checking for any minute little burrs on either the bit or collet. 1000+ grit wet or dry sandpaper can help with that. And finally, as others have surely pointed out, never put the bit shaft all the way to the bottom of the collet assembly, always leave about 1/8"to prevent this foolishness from recurring. Good success to you!
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