MONEY
A medium of exchange. Anciently, livestock often figured in barter, that is, the exchange of one item for another and evidently the oldest method for making a business transaction. indicative of this is the fact that the Latin word for money (pecunia) is drawn from pecus, meaning “cattle.” However, livestock (Gen. 47:17) and foodstuffs (1 Ki. 5:10, 11) were not always convenient mediums of exchange. Therefore metals such as gold and silver came to be used. As early as Abraham’s time precious metals served as money. But this was not standard coined money. It consisted of silver and gold, doubtless molded for convenience into bars, rings, bracelets or other standard shapes having a specific weight. (Compare Genesis 24:22; Joshua 7:21.) Often the metal objects were weighed by the individuals concerned when payment was made.—Gen. 23:15, 16; Jer. 32:10.
As business transactions involved weighing, understandably designations of weights were also monetary designations. (See WEIGHTS AND MEASURES.) Among the Israelites there were five main divisions: the gerah, half shekel (bekah), shekel, maneh (mina) and talent. (Ex. 25:39; 30:13; 38:25, 26; 1 Ki. 10:17; Ezek. 45:12; see GERAH; MINA; SHEKEL; TALENT.) Their relationship and comparative modern values in gold and silver are set forth below. (Gold is calculated at $35.115 per ounce troy and silver at $1.293 per ounce troy; the ancient ratio of gold to silver, however, is considered to be 1 to 13.)
Gold Silver
1 gerah = 1/20 shekel $ .64 $ .0237
1 bekah = 10 gerahs 6.44 .237
1 shekel = 2 bekahs 12.89 .475
1 maneh = 50 shekels 644.35 23.73
1 talent = 60 manehs 38,661.00 1,423.59
The value of the “piece(s) of money” (Hebrew, qesi·tahʹ) mentioned at Genesis 33:19; Joshua 24:32 and Job 42:11 cannot be definitely established. Likewise the value of the pim is uncertain. It may have been about two-thirds of a shekel.—1 Sam. 13:21; see PIM.
COINS IN THE HEBREW SCRIPTURES
It is commonly believed that the first coins were struck about 700 B.C.E. So the Israelites probably first used coins in their homeland after returning from exile in Babylon. Postexilic Bible books refer to the Persian daric (1 Chron. 29:7; Ezra 8:27) and the dar·kemohnʹ (drachma), which is generally equated with the daric. (Ezra 2:69; Neh. 7:70-72) The Persian gold daric weighed about .27 ounce troy (8.4 grams) and is therefore presently evaluated at $9.48.—See DARIC; DRACHMA.
MONEY IN THE CHRISTIAN GREEK SCRIPTURE PERIOD
The lepton (Jewish, copper or bronze), quadrans (Roman, copper or bronze), ass or assarion (Greek, copper or bronze), denarius (Roman, silver), drachma (Greek, silver), didrachma (Greek, silver) and the stater (Greek, silver; considered by many to be the tetradrachma of Antioch or Tyre) are coins specifically mentioned in the Christian Greek Scriptures. (Matt. 5:26; 10:29; 17:24, 27; 20:10; Mark 12:42; Luke 12:6, 59; 15:8; 21:2, Kingdom Interlinear Translation; see DENARIUS; STATER.) The much larger monetary values known as minas and talents were weights, not coins. (Matt. 18:24; Luke 19:13-25) The chart that follows shows the relationship between the various monetary units and converts into modern terms the approximate values current in the Christian Greek Scripture period.
Modern Value
1 lepton = 1⁄2 quadrans $ .00125
1 quadrans = 2 lepta .0025
1 ass (assarion) = 4 quadrans .01
1 denarius = 16 asses .16
1 drachma = c. 1 denarius .14
1 didrachma = 2 drachmas .28
1 tetradrachma = 4 drachmas .56
(stater, thought to be the same as tetradrachma)
1 mina (silver) = 100 drachmas 14.094
1 talent (silver) = 60 minas 845.64
1 talent (gold) 22,965.21
PURCHASING POWER
Modern values for ancient money do not give a true picture of its worth. The Bible, however, provides some indication of purchasing power and this is helpful in understanding ancient values. In the time of Jesus’ earthly ministry agricultural laborers commonly received a denarius for a twelve-hour workday. (Matt. 20:2) It may be assumed that in the Hebrew Scripture period wages were about the same. If so, a silver shekel would be the equivalent of three days’ wages.
The price of a slave was thirty silver shekels (ninety days’ wages?). (Ex. 21:32; compare Leviticus 27:2-7.) Hosea the prophet purchased a woman for fifteen silver pieces and one and a half homers (15 ephahs) of barley. Likely this payment constituted the full price for a slave. If so, an ephah (.62 bushel; 22 liters) of barley was then worth one shekel.—Hos. 3:2.
In times of scarcity prices rose sharply. The eighty silver pieces (240 days’ wages?) that at one time might have bought eight homers (49.6 bushels; 1,760 liters) of barley would, in time of siege, only procure the thinly fleshed head of an ass, an animal unfit for food according to the terms of the Mosaic law.—2 Ki. 6:25; compare Hosea 3:2.
In the first century C.E. two sparrows cost an assarion (45 minutes’ wages) and five sparrows could be obtained for double this price. (Matt. 10:29; Luke 12:6) The contribution of the needy widow was even less, a mere two lepta (1 quadrans) or a sixty-fourth of a day’s wages. Yet Christ Jesus commended her giving as being greater than that of those who had donated much, as she had contributed, not part of her surplus, but “all of what she had, her whole living.” (Mark 12:42-44; Luke 21:2-4) The annual temple tax paid by the Jews was two drachmas or a didrachma (about two days’ wages). (Matt. 17:24) As a drachma was the equivalent of about a day’s wages, a woman might reasonably sweep her whole house and diligently search for a lost drachma coin.—Luke 15:8, 9.
Judas Iscariot betrayed Jesus for thirty pieces of silver, evidently the price of a slave. (Matt. 26:14-16, 47-50) No doubt these silver pieces were either shekels or other coins similar in value. But the kind of coin is not specified in the account, except for their being silver.
MONEY CAN BE BOTH BENEFICIAL AND HARMFUL
Money provides a defense against poverty and its attendant troubles, enabling persons to procure both necessities and luxuries. (Compare Ecclesiastes 7:12; 10:19.) For this reason the possibility exists of a person’s beginning to trust in money as security and to forget his Creator. (Compare Deuteronomy 8:10-14.) “The love of money [literally, fondness of silver] is a root of all sorts of injurious things, and by reaching out for this love some have been led astray from the faith and have stabbed themselves all over with many pains” (1 Tim. 6:10) For money, persons have perverted justice, prostituted themselves, committed murder, betrayed others and falsified the truth.—Deut. 16:19; 23:18; 27:25; Ezek. 22:12; Matt. 26:14, 15; 28:11-15.
On the other hand, the proper use of money is approved by God. (Luke 16:1-9) This includes contributing toward the advancement of pure worship and giving material assistance to those in need. (Compare 2 Chronicles 24:4-14; Romans 12:13; 1 John 3:17, 18; see CONTRIBUTION; GIFTS OF MERCY.) Although much good can thus be done with money, the most valuable things, spiritual food and drink, eternal life itself, can be obtained without it.—Isa. 55:1, 2; Rev. 22:17.