In this paper, we derive the mean-field limit of a collective dynamics model with time-varying weights, for weight dynamics that preserve the total mass of the system as well as indistinguishability of the agents. The limit equation is a transport equation with source, where the (non-local) transport term corresponds to the position dynamics, and the (non-local) source term comes from the weight redistribution among the agents. We show existence and uniqueness of the solution for both microscopic and macroscopic models and introduce a new empirical measure taking into account the weights. We obtain the convergence of the microscopic model to the macroscopic one by showing continuity of the macroscopic solution with respect to the initial data, in the Wasserstein and Bounded Lipschitz topologies.