Matthew 27:5-8

Judas threw the 30 pieces of silver that he had received for betraying Jesus into the temple sanctuary. Perhaps Judas thought he could atone for his sin to some extent with this gift. Then he went out and hanged himself (cf. 2 Samuel 17:23 LXX). Many scholars believe this was in the region of gehenna, the city dump of Jerusalem, near the confluence of the Kidron and Hinnom valleys south of the city.

The chief priests properly refused to receive the silver into the temple treasury (cf. Deuteronomy 23:18). Here again they appear scrupulous about ritual observance of the Law while at the same time they failed to defend what is more important, namely, the innocence of Jesus (cf. Matthew 12:9-14; Matthew 15:1-9; Matthew 23:23: Matthew 28:12-13). They decided to use the money for a public project, a graveyard for foreigners. The place they used had evidently been an area of land from which potters obtained their clay but which by now had become depleted.

The account of Judas’ death in Acts 1:18-19 is slightly different, but it is easy to harmonize the two stories. Probably the chief priests bought the grave with Judas’ money. Judas evidently hanged himself, and then the corpse apparently fell to the ground and burst open. Perhaps the branch from which he hanged himself broke, or his body may have fallen when it began to decompose. The place of his suicide could have received the name "field of blood" before or after Judas’ death. If it was before, Judas may have chosen to kill himself on the field that his money had purchased. It seems more likely, however, that the Sanhedrin purchased the field sometime after the events of this night.