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Vine's Expository Dictionary of NT Words
Pence, Penny, Pennyworth
a Roman coin, a denarius, a little less than the value of the Greek drachme (see PIECE), now estimated as amounting to about 9 1/2d. in the time of our Lord, occurs in the singular, e.g., Matthew 20:2; 22:19; Mark 12:15; Revelation 6:6; in the plural, e.g., Matthew 18:28; Mark 14:5; Luke 7:41; 10:35; John 12:5; "pennyworth" in Mark 6:37; John 6:7 , lit., "(loaves of two hundred) pence." Considering the actual value, "shilling" would have been a more accurate translation, as proposed by the American translators, retaining "penny" for the as, and "farthing" for the quadrans.
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Vines, W. E., M. A. Entry for 'Pence, Penny, Pennyworth'. Vine's Expository Dictionary of NT Words. https://www.studylight.org/dictionaries/eng/ved/p/pence-penny-pennyworth.html. 1940.