AKELDAMA (a-kĕl'da-ma, ASV, NIV, RSV; Aceldama, a-sĕl'da-ma, kjv; Hakeldama, ha-kĕl'da-ma, jb, nasb; Gr. Akeldama). The field purchased with the money Judas received for betraying Christ (Acts.1.18-Acts.1.19). Matt.27.3-Matt.27.10, with a fuller account of the purchase, says the priests bought it “as a burial place for foreigners.” Acts.1.18-Acts.1.19 is a parenthesis, an explanation by Luke, not part of Peter’s speech. These verses say that “with the reward he got for his wickedness, Judas bought a field.” The priests apparently bought it in Judas’ name, the money having been his. The field was called “the place of blood” in Aramaic. Some think the Aramaic word means “field of sleep,” or “cemetery,” but the meaning “field of blood” is preferable, and it is appropriate because of the manner of Judas’ death, the gruesome details being given in Acts.1.18.
Tradition has located the “Field of Blood” S of Jerusalem in the Valley of Hinnom W of its junction with the Valley of the Kidron. Today there are some 1st-cent. tombs found in this area. The soil contains a kind of clay which is suitable for use in the manufacture of pottery and the area could be designated as the “Potter's Field|Potter’s Field.”
International Standard Bible Encyclopedia (1915)
A field said in Ac 1:19 to have been bought by Judas with the "thirty pieces of silver." In Mt 27:6,7 it is narrated that the priests took the silver pieces which Judas had "cast down .... into the sanctuary" and "bought with them the potter’s field, to bury strangers in. Wherefore that field was called, The field of blood, unto this day." Doubtless it was a supposed connection between this potter’s field and the potter’s house (Jer 18:2) and the Valley of the Son of Hinnom (Jer 19:2) which influenced the selection of the present site which, like the Aramaic h-q-l-d-m-’ (Dalman), is today known as haqq-ed-dumm, "field of blood."
Tradition, which appears to go back to the 4th century, points to a level platform on, and some distance up, the southern slope of the Wady er Rababi (Valley of Hinnom) just before it joins the Kidron Valley. Upon this spot there is a very remarkable ruin (78 ft. x 57 ft.) which for many centuries was used as a charnel house. The earth here was reputed to have the property of quickly consuming dead bodies. So great was its reputation that vast quantities of it are said to have been transported in 1215 AD to the Campo Santo at Pisa.
When this building was standing entire, the bodies were lowered into it through five openings in the roof and then left to disintegrate, so that a few years ago there were very many feet of bones all over the floor. These have now been removed. A little Southeast of this ruin is a new Greek monastery erected in recent years over the remains of a large number of cave tombs; many of the bones from "Akeldama" are now buried here.