The album had a direct influence on modern sludge and drone music. Bands such as Godflesh, Khanate, Sunn O))) and Tool 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 "A Screw (Holy Money)", though "A Screw (Holy Money) (Mix)" was listed as this) and Greed (barring "Fool" and "Money Is Flesh", however "Fool (#2)" and "Money Is Flesh (#2)" were listed as these, respectively), as well as the entirety of the A Screw EP and an abridged version of "Time Is Money (Bastard) (Mix)" (listed as "Time Is Money (Bastard)") from the Time Is Money (Bastard) EP. This compilation, with its entirely re-organized track list, 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".