What does James 5:3 mean?

James continues his harsh condemnation of wealthy non-Christians who had been oppressing the poor. This includes abuse against the very Christians James is writing to. He warns these rich oppressors that their wealth is as good as gone, including their gold and silver.

James's attention is on the day of God's judgment against these wealthy oppressors. The misuse of their gold and silver will testify against them, according to this symbolic description of corrosion. Instead of using their stockpiles of precious metals to help the poor, they just hoarded the money until it began to waste away. When God rules against them, their own flesh will be eaten away by fire in the same way the corrosion has eaten away their gold and silver.

Without doubt, this is a harsh and cutting pronouncement. James offers no grace from God for these unrepentant unbelievers. They will be condemned for their greed and selfishness. They are guilty of laying up earthly treasure for themselves in the last days instead of spending it to help those in need.

James echoes Jesus' own teaching: "Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also" (Matthew 6:19-21).