EDIT: As it turns out when I was browsing I found a question the appears to be the same as mine which I didn\'t find earlier: Difference between lock(locker) and lock(variab
The general rule is that you want to control the scope of the object your locking on to prevent some unknown code from causing unexpected behavior. In this case you are using a private instance variable so you are probably OK as long as you are not handing out references to it.
If you are handing out references and locking on it and other code is locking those references (e.g. when modifying the collection) changing the behavior could easily introduce threading bugs.
If someone puts it into a public property that counts as "handing out references" if they lock on it your call to lock will block until they unlock it. Whether this is desirable or not depends on what they are doing with the collection.
Having the object locked will have have no effect on using the object for any purpose other than synchronization.