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Tyndale Open Bible Dictionary

MONEY CHANGER

Ancient profession that undertook many of the services performed by the modern banker, particularly in the area of exchanging the currency of one country or province into that of another, or of exchanging small coins for coins of greater value or vice versa. Naturally, a fee was charged for such a service.

Standardized coinage as such does not go back beyond the seventh century BC. In earlier periods pieces of silver were weighed out in payment for commodities (Gn 20:16; 37:28; Jgs 17:2). Once the standardized coin was adopted in Asia Minor the idea was copied in other lands, but since coins differed from country to country, equivalents had to be worked out by the money changers.

The need for such procedures was particularly important in Palestine, where every adult male Jew had to pay a half-shekel offering (Ex 30:11-16). Jews from various countries who came to pay this sum might bring a variety of types of coinage. Temple authorities had to authorize a coin appropriate for the purpose. This was the silver Tyrian half-shekel or tetradrachma (cf. Mt 17:27, where Peter was told to pay the temple tax for Jesus and himself with the coin he found in the mouth of a fish). The Mishnah states (Sheqalim 1:3) that money changers operated in the provinces on the 15th of the month of Adar (the month before the Passover) to collect this tax. Ten days before the Passover the money changers moved to the temple courts to assist Jews from foreign countries.

Jesus encountered the money changers in the temple courtyard when he “cleansed the temple” (Mt 21:12-13; Mk 11:15-16; Lk 19:45-46; Jn 2:13-22). The reason for this action has been a matter of debate. Worshipers needed to procure the half-shekel to pay their tax. But they needed also to purchase birds, animals, or cake offerings in some cases. This wholesale activity in buying and money changing seemed inappropriate in the temple precincts, which constituted a sacred area (cf. Mk 11:16), although Jesus evidently approved the payment of the temple tax as such (Mt 8:4; 17:24-26; Mk 1:44; Lk 5:14). There is also the possibility that the charge made by money changers and by those who sold sacrificial birds and animals was exorbitant, whether for their own profit or for the profit of the temple authorities. Such operations could be carried on at a suitable distance from the sacred area so that the haggling and noise associated with such activities in an Eastern setting did not unnecessarily disturb the prayer and the offering of sacrifices carried on in the temple courts (cf. Jer 7:11).