Shekel << SHEHK uhl >> became the monetary unit of Israel in 1980. It was replaced by another monetary unit, the new shekel, in 1985. The word shekel originally meant a unit of weight. The shekel was used as a weight by Babylonians, Phoenicians, and Hebrews. The Bible often refers to the Hebrew shekel. It weighed about 218 grains, or about 1/2 ounce (14 grams). It was first used as money in the form of uncoined gold and silver. The Hebrews coined their first shekels about A.D. 66. Half and quarter silver shekels also were coined.