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1.
An expression of approval for something neat, or awesome. Usually said in relation to an action. It is not a descriptive expression for a noun (i.e: not "that chick is sweet nickels!")

Similiar to "cool beans."
Dude # 1: Dude, school's closed because of the blizzard! Wooooo!

Dude # 2: Sweet nickels!

Dude # 3: You're such a fag.
by Matty "Matt" McMatt November 17, 2007
11 2
 
2.
n. Anything that is good, or as it should be.
"You look like a sweet-nickel in that outfit."
by Frank Devine November 11, 2006
7 3