As Israel was situated at the crossroads between Mesopotamia, Syria, Asia Minor and Egypt, the Israelites were soon able to engage in trade with other nations. Israel’s main imports were agricultural produce, such as olive oil, wine and wheat (1 Kings 5:11, Ezek. 27:17). They also produced and exported dried nuts (such as pistachios and walnuts), perfumes, and spices (Gen. 43:11). Other important products included dates, figs, sheep’s wool and woollen garments.

Israel imported raw materials such as tin, silver, lead, copper, iron, gold (1 Kings 10:10–12), and timber (1 Kings 5:6-9). White linen (a fine fabric made from flax) may have been a regular import from Egypt and Syria, whilst purple woolen cloth and garments came from Phoenicia. Although the Israelites produced pottery, they also imported specialised pottery from the island of Cyprus and Greece. Precious stones, ivory, spices and other goods reached Israel via camel caravans crossing the desert and by sea from southern Arabia, Ethiopia and India (1 Kings 10:2, 10, 22).

As trade flourished in Israel during Solomon’s reign, so too did the use of gold and silver as a means of payment for goods. Around this time, merchants and a specialised group of money changers began weighing and testing pieces of gold and silver to determine the value and purity of these items. However, exchanging one type of commodity for another remained the primary way of conducting business.

As discussed previously, the use of money (minted coins) began in Palestine during the Persian rule there (530–330 BC). Gold dirhams, silver shekels and minas were used to buy and sell goods (Neh. 5:15). The coins in circulation came from many different places. Even Judah, a Persian province, was granted permission to mint its own silver coins. After the Jews gained their independence under the Maccabean dynasty (164 BC), they also minted their own coins.

In Jesus’ time, Roman coins were the only form of currency that could be used to pay taxes to the Roman government (Luke 20:20-26), although coins from other countries were also used in buying and selling. Although the Bible does not provide a complete picture of how the local economy functioned, it mentions that labourers were paid a daily wage (Matt. 20:1-2), and sets out the requirements for paying the annual Temple tax (Matt. 17:24-27). These verses may refer to a dinar, a coin from Cappadocia. It may also be the coin mentioned by Jesus in Matt. 22:19. The thirty pieces of silver paid to Judas to help the authorities arrest Jesus (Matt. 26:15) was probably the equivalent of an ordinary labourer’s wages for about four months’ work.

Source: Study Edition Bible