shek'-'-l, shek'-el, she'-kel, she'-kul (sheqel):

A weight and a coin. The Hebrew shekel was the 50th part of a mina, and as a weight about 224 grains, and as money (silver) was worth about 2 shillings 9d., or 66 cents (in 1915). No gold shekel has been found, and hence, it is inferred that such a coin was not used; but as a certain amount of gold, by weight, it is mentioned in 2 Chronicles 3:9 and is probably intended to be supplied in 2 Kings 5:5. The gold shekel was 1/60 of the heavy Babylonian mina and weighed about 252 grains. In value it was about equal to 2 British pounds and 1 shilling, or about .00 (in 1915). See MONEY; WEIGHTS AND MEASURES. In the Revised Version (British and American) of Matthew 17:27 "shekel" replaces "piece of money" of the King James Version, the translation of stater.


H. Porter

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Bibliography Information
Orr, James, M.A., D.D. General Editor. "Entry for 'SHEKEL'". "International Standard Bible Encyclopedia". 1915.