What is Nickel? Meaning, Definition, Examples, Conversion Method (2024)

The Concept of Nickel Money

If your parents gave you a couple of coins for your weekly allowance, do you know the value of each coin? How will you calculate the total sum or buy things with it? How will you know how much money the cashier owes you when you buy something?

We will learn about one such coin, the nickel, in this article. We will also learn how to convert it into other coin values.

What Is a Nickel?

A nickel is a coin of the United States.

How much money is a nickel worth?

A nickel is equal to five cents.

How does a Nickel money look like?

Here’s what a nickel looks like:

You will find a picture of President Thomas Jefferson on the nickel.

Now let’s find out what is a nickel converted into other coin values.

Conversion of Nickels into Dollars

What is a nickel converted into dollars?

As 100 cents form a dollar, and 1 nickel equals five cents, we can say that 20 nickels make up a dollar.

Thus, the formula for converting nickels into dollars is

20 nickels = $1

or 1 nickel = $0.05

Here is a picture of the dollar coin:

Conversion of Nickels into Dimes

What is a nickel converted into dimes?

As 10 cents form a dime, and 1 nickel equals 5 cents, we can say that 2 nickels make up a dime.

Thus, you can convert nickels and dimes using the formula:

2 nickels = 1 dime

or 1 nickel = 0.5 dimes.

Here is a picture of a dime coin:

Conversion of Nickels into Quarters

What is a nickel converted into quarters?

As 25 cents make one quarter, and 1 nickel equals 5 cents, we can say that 5 nickels make up one quarter.

5 nickels = 1 quarter

or 1 nickel = 0.2 quarters.

Here is a picture of a quarter coin:

Solved Examples

Example 1. Albert has 4 nickels in his pocket. How many candies can he buy worth 10 cents each?

Solution: We know that the value of 1 nickel is equal to 5 cents.

or 1 nickel = 5¢

The total number of cents with Albert = 4 nickels = 4 x 5 = 20¢

The cost of 1 candy = 10¢

The number of candies Albert can buy = Total money in cents ÷ Cost of each candy

= 20¢ ÷ 10¢

= 2

Thus, Albert can buy 2 candies with 4 nickels.

Example 2. Jane has a piggy bank in which she has collected 160 nickels. How many dollars can she exchange the nickels for?

Solution: We know that 1 dollar = 20 nickels

Total number of nickels with Jane = 160

Number of dollars = 160 ÷ 20 = 8 dollars

Example 3. Anne received 10 dollars on her birthday from her grandmother. How many nickels can she convert them into?

We know that 1 dollar = 20 nickles

Total number of dollars with Anne = 10

Number of nickels = 10 x 20 = 200 nickels

Practice Problems

Frequently Asked Questions