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Wiktionary
nickel bag

n. 1 A five-dollar baggie of narcotics, especially marijuana. 2 A bagged portion of half a gram of narcotics.

Wikipedia
Nickel Bag

Nickel Bag is the third EP album from the Kottonmouth Kings released May 9, 2006. It is only available via digital download on iTunes. The EP is known as a pre-release for their album Koast II Koast