The album had a direct influence on modern sludge and drone music. Bands such as Godflesh, Khanate and Sunn O))) have all cited this album's importance.
The first CD issue contained the A Screw EP as bonus tracks. A later compilation released in 1992, Greed / Holy Money, combined Holy Money (barring "Fool (#2)" and "Money Is Flesh (#2)"), with the entirety of Greed, as well as "A Screw" and "Blackmail" from the A Screw EP and "Time Is Money (Bastard)" from its respective single. This compilation, with its entirely re-organized tracklist, saw re-issue in 1999 in the double-disc set Cop/Young God / Greed/Holy Money, which included the Cop album and Young God EP.
AllMusic commented that Holy Money "well documents the continuing transformation of Swans into a more complex, intriguing beast."Trouser Press called it "more or less a twin to Greed; virtually identical in cover art and musical approach".