I once preached at a church known locally as “The wages church”. The reason was that the church had posted on a banner outside Romans 6:23, Unfortunately, from the top deck of the bus, you could only see the first part of the verse emphasising that “the wages of sin is death”, you missed out on the free gift of eternal life part!
Romans 6:23 has historically been used as an evangelistic verse. However, it was written to Christians and forms part of the argument Paul sets out for why Christians should commit to godly living and say no to sin. It encourages us to look back and remember what kind of a master sin was, what the true consequences of sin was. This should remind us that although temptation makes sin look attractive, it is in fact ugly and costly.
The wages of sin was death because we were under the penalty of death, just as God warned Adam. As believers we are now free from that penalty, we no longer need to fear that curse. Death has no power over us. Physically we will die but spiritual death is dealt with and we know that we will rise to eternal life with God.
I think it is fair to say as well that although we are no longer under that penalty, there is a sense in which sin still brings its wages. It may not be able to bring the full penalty of death as eternal punishment, exile away from God’s loving presence. However, the fruit of sin in the believer’s life is death life. Sin kills love and joy. Sin kills relationships. Sin brings the stench of decay.
So, whilst there are wonderful evangelistic truths in the verse, in context it first of all sets that warning and encouragement to believers. We are not to be enticed back to sin. We have a new, true and better master and what he offers us is something far better than the wages of sin.