Types of Coins in the Bible

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COINS OF THE BIBLE

If you’ve read the New Testament, you’ve probably come across references to monetary values like the mite, penny, shekel, drachma, and denarius. This quick article is meant to give you an introduction to some of the most common coins we read about in the New Testament. These would have been the same coins Jesus and His disciples used when they were out running their daily errands.

Tiberius Denarius

References in the Bible:

• Parable of the Laborers in the Vineyard – Matthew 20

  • Translated “Denarius” in ESV, “penny” in KJV, and “shilling” in ASV.

• Question About Taxes to Caesar – Mark 12:13-17

  • Mar 12:15-16 But, knowing their hypocrisy, he said to them, “Why put me to the test? Bring me a denarius and let me look at it.” And they brought one. And he said to them, “Whose likeness and inscription is this?” They said to him, “Caesar’s.”

• Many suggest that these were the “silver coins” referenced in the Parable of the Lost Coin in Luke 15:8-10.

Mite/Penny

References in the Bible:

• Settling with an Accuser– Luke 12:59

  • “I tell you, you will never get out until you have paid the very last penny.”

  • Translated “mite” in KJV.

• Widow with 2 mites – Mark 12:41-44

  • “And there came a certain poor widow, and she threw in two mites, which make a farthing.”

  • •2 mites = 1 farthing (KJV) / 1 penny (ESV)

Shekel

References in the Bible:

• The Temple tax was ½ shekel/person – Exodus 30:13

• 2 Drachma = ½ Shekel (Mark 17:24-27 ESV)

  • Full Shekel sometimes called a tetradrachm.

• Therefore, the shekel Peter found in the fish’s mouth would have been worth 4 Drachma and paid the full tax for two people (Jesus and Peter).

• Equivalent to ~2 days wages.

• Averaged 14 grams in weight.

• The temple tax was paid using the Tyrian Shekel.

  • This is what they “money changers” would have been exchanging common currency for in the Temple when Jesus overturned their tables

  • Why was the Tyrian Shekel used?

  • Purer silver.

  • Priests would not use the image of the Roman Emperor in God’s house.

  • Very lucrative for the Jewish elite.

  • Broke two of the 10 commandments (1) No graven images (2) No other gods.

  • The 30 pieces of silver Judas received for betraying Jesus were probably Tyrian Shekels – Matthew 26:15; 27:3-5