Genesis 23:16

16 So Abraham agreed to Ephron’s price and paid the amount he had suggested—400 pieces of silver, weighed according to the market standard. The Hittite elders witnessed the transaction.

Genesis 23:16 Meaning and Commentary

Genesis 23:16

And Abraham hearkened unto Ephron
He agreed at once to give him the sum proposed, judging it to be a moderate price between man and man, and he was satisfied with it, and well content to pay him the money: and Abraham weighed to Ephron the silver:
for in those times money had no mark or stamp upon it to show its value, and therefore was not told by pieces, but weighed, by which its full worth was known; and that Ephron might have his whole and just demand, the silver was weighed to him: which he had named, in the audience of the sons of Heth;
who were witnesses of the bargain, of the price set by Ephron, and of the payment of it by Abraham: four hundred shekels of silver:
the sum before mentioned, ( Genesis 23:15 ) : current [money] with the merchant;
such as was used by merchants in buying and selling; such as they would receive, who knew the value of it, and were careful not to take any that was bad; wherefore such as would pass, with them would go anywhere, was current money; how all this is consistent with what Stephen says; (See Gill on Acts 7:16).

Genesis 23:16 In-Context

14 Ephron answered Abraham,
15 “My lord, please listen to me. The land is worth 400 pieces of silver, but what is that between friends? Go ahead and bury your dead.”
16 So Abraham agreed to Ephron’s price and paid the amount he had suggested—400 pieces of silver, weighed according to the market standard. The Hittite elders witnessed the transaction.
17 So Abraham bought the plot of land belonging to Ephron at Machpelah, near Mamre. This included the field itself, the cave that was in it, and all the surrounding trees.
18 It was transferred to Abraham as his permanent possession in the presence of the Hittite elders at the city gate.
Holy Bible. New Living Translation copyright© 1996, 2004, 2007, 2013 by Tyndale House Foundation. Used by permission of Tyndale House Publishers Inc., Carol Stream, Illinois 60188. All rights reserved.