Hastings' Dictionary of the Bible (1898)
DENA'RIUS, a Roman silver coin nearly equivalent to the Greek drachma, and worth about 15 cents; translated in Roman Denarius. V. "penny," which makes the impression of a very small sum; it was really the amount of a day's wages. Matt 20:2; comp. Luke 10:35. "Shilling" would be a much nearer equivalent; but the better way would have been to transfer the Greek term into English (denar), as the evangelists retained the Latin term in the Greek. See Penny.