The Bag of Wooden Nickels was a bag of wooden coins was one of the many treasures in the treasure hold of LeChuck's ship, The Death Starfish under the misguidance that he could literally buy Elaine's love.
When the ship turned upside down, Guybrush Threepwood found a diamond ring underneath the bag, which Guybrush used to escape the wrecked ship. It was used as currency in a few instances, such as buying "lemonade" from the boy crook, Kenny Falmouth. Otherwise, it was not usable for buying anything.
It only appeared in The Curse of Monkey Island.
- The obvious gag is that Nickels should be made of nickel, not wood.