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3.
A five dollar bag of reefer, reference in Jay and Silent Bob Strike Back.
Druggie Kid: Give me a nickel bag.
Jay: Fifteen bucks, little man. Put that sh*t in my hand!
by cass3h February 22, 2008
 
1.
$5 worth of reefer. Maybe just a small nug is all. Itll get ya high.
-Yo, lemme get a nickel bag of that bud.

-Thatll be $5.
by Adam June 19, 2004
 
2.
five dollars worth of marijuana.
yo man, I am a broke ass sucka and all I gots is this fiver, how bout' breakin' me off a nickelbag of that dank shit you got?
by Nickelbag O' Funk September 13, 2003
 
4.
5 dollars worth of pot. Usually used when talking to a dealer.

The example below is from the movie Jay And Silent Bob Strike Back. If you haven't seen it, get off your ass and rent it.
1
Guy: Lemme get a nickelbag
Jay: 15 bucks, little man. Put that shit, in my hand. If the money doesn't show than you owe me, owe me, owe.
(he already owed him $10)

2
i)I just smoked a nickelbag worth of pot.
ii)Did you even get a high?
i)No.
by drinkingbeersbeersbeers August 19, 2007
 
5.
A code word for an amount of marijuana. Originally 5.6 grams of marijuana or one 5th of an ounce. Often confused due to the term "dime bag" code for a $10 bag, the term "nickel bag" was never measured on that same scale. Many avid smokers use this to identify posers and noobs. Where a dime (ten cent piece) refers to ten dollars worth, a nickel (five cent piece) refers to 1/5th of an ounce. A nickel is in fact worth more than a dime when referring to an amount of marijuana.
"If the five of us split an ounce of pot evenly, each of us will have our own nickel bag"
by Test4Echo August 23, 2014
 
6.
A cheap slut; five cent hooker
Damn! Lupe was with three guys last night? She's such a nickelbag.
by SPpride_805 July 08, 2004