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Answer:
Yes, that's why it's called a nickel.
By the 1870s all except the nickel 5-cent piece had been discontinued but the old terms lived on for a while; sometimes the coins were called "five-cent nickels" which eventually was shortened to just plain "nickel".
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It's actually made of 75% copper, but when it was introduced in 1866 it was one of the first US coins to have a significant amount of nickel in it. The other was a 3¢ piece. Because there were also silver 3¢ and 5¢ coins people started calling them "three cents silver", "three cents nickel", and so on.By the 1870s all except the nickel 5-cent piece had been discontinued but the old terms lived on for a while; sometimes the coins were called "five-cent nickels" which eventually was shortened to just plain "nickel".
First answer by Uscs1957.
Last edit by JayKay.
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