The Tribute Penny: In Jesus' time, there was a tax collected (tribute) for the Roman emperor, in addition to the numerous local Judaean taxes. During one of these collections, Jesus said: "Shew me the tribute money. And they brought unto him a penny (King James translation for a silver denarius). And he saith unto them, Whose is this image and superscription? They say unto him, Caesar's. Then saith he unto them, Render therefore unto Caesar the things which are Caesar's, and unto God the things that are God's (Matthew 22:19-21). The coin referred to is generally considered to be a silver Roman denarius featuring the likeness of the Emperor Tiberius (14-37 CE) on one side, and his mother Livia, seated on a throne, on the reverse.
 

"Tell us therefore, What thinkest thou? Is it lawful to give tribute unto Caesar, or not? But Jesus perceived their wickedness, and said, Why tempt ye me, ye hypocrites? Shew me the tribute money. And they brought unto him a penny. And he saith unto them, Whose is this image and superscription? They say unto him, Caesar’s. Then saith he unto them, Render therefore unto Caesar the things which are Caesar’s; and unto God the things that are God’s. When they had heard these words, they marvelled, and left him, and went their way. (Matthew 22:17-22)"

Jesus, referring to a "penny" asked, "Whose is this image and superscription?" When told it was Caesar, He said, ''Render therefore unto Caesar the things which are Caesar's and unto God the things that are God's" (Matthew 22:20-21). Since Tiberius was Caesar at the time, this denarius type is attributed by scholars as the "penny" referred to in the Bible. Although there are two other reverse types on denarii of Tiberius, they were only issued during the first two years of his reign, while the Pax reverse was employed throughout the remainder, making it the more likely coin referred to.

The reign of Tiberius (b. 42 B.C., d. A.D. 37, emperor A.D. 14-37) is a particularly important one for the Principate, since it was the first occasion when the powers designed for Augustus alone were exercised by somebody else. In contrast to the approachable and tactful Augustus, Tiberius emerges from the sources as an enigmatic and darkly complex figure, intelligent and cunning, but given to bouts of severe depression and dark moods that had a great impact on his political career as well as his personal relationships. His reign abounds in contradictions.

Despite his keen intelligence, he allowed himself to come under the influence of unscrupulous men who, as much as any actions of his own, ensured that Tiberius's posthumous reputation would be unfavorable; despite his vast military experience, he oversaw the conquest of no new region for the empire; and despite his administrative abilities he showed such reluctance in running the state as to retire entirely from Rome and live out his last years in isolation on the island of Capri. His reign represents, as it were, the adolescence of the Principate as an institution. Like any adolescence, it proved a difficult time.