A nickel is now worth 5.7 cents when melted down for its constituent base metals
Jefferson Nickel Melt Value - Coinflation.com
Moreover, you do not have to worry about refining out the copper from the nickel, either. There is a vibrant market for "cupronickel" in industry.
All you have to worry about is the fed (ha ha!), as this practice is illegal.
However, it certainly makes sense to consider again the "poor man's hedge" against inflation as simply stockpiling nickels.
Bulky? Yes. But cheap as dirt.