Easton's Bible Dictionary

Penny - (Gr. denarion), a silver coin of the value of about 7 1/2d. or 8d. of our present money. It is thus rendered in the New Testament, and is more frequently mentioned than any other coin (Matt. 18:28; 20:2, 9, 13; Mark 6:37; 14:5, etc.). It was the daily pay of a Roman soldier in the time of Christ. In the reign of Edward III. an English penny was a labourer's day's wages. This was the "tribute money" with reference to which our Lord said, "Whose image and superscription is this?" When they answered, "Caesar's," he replied, "Render therefore to Caesar the things that are Caesar's; and to God the things that are God's" (Matt. 22:19; Mark 12:15).