It's so common a phrase in Christianity that it's pased me by much of my life. It must have some surreal, metaphysical, hyper-dimensional meaning....because with the standard phrasing in the NT it really doesn't compute. I get that only God can deal finally with sin....but what does it mean...bottom line...."Jesus died for our sins?" Emphasis is on the word "For". How can God take the place of sin (evil), and where does the sin go? Philosophical answers very welcome.
When theologians describe trying to describe the Mystery of the Atonement, they often speak of "Atonement Theories", there have been a number proposed and described, either explicitly or implicitly, over the last two thousand years.
Chronologically, the most common Atonement Theories are these:
Recapitulation Theory (2nd century)
Ransom Theory (3rd century)
Satisfaction Theory (11th century)
Moral Influence Theory (11th century, but just about unanimously rejected in its time)
Penal Substitution Theory (16th century, based on Satisfaction Theory)
Christus Victor Theory (20th century, but is a revival of the Recapitulation and Ransom Theories)
Many theologians have also argued that it isn't necessary to see one theory to the exclusion of others; and that all of the extant Atonement Theories draw from different biblical language to describe the Atonement itself.
The fact that there have been so many ways and means of Christians trying to tackle this transcendent mystery should, at the very least, allow us to see at just how profound and transcendent the mystery is.
Something truly cosmically awesome transpired on Mt. Calvary, and we have--in the wake of that Event--been ever grasping to wrap our heads around it and trying to articulate it.
My recommendation is to look over the various views of the Atonement, read Scripture, and pursue understanding how and why the Christian Church has in various times and places sought to articulate the Mystery in these many ways.
Personally I subscribe to Christus Victor Theory, as I believe it speaks the loudest and most clearly concerning the biblical message and echoes the most ancient Christian language of the Atonement. I see some merit in the Satisfaction Theory, if perhaps only minimally, but in general view Penal Substitution as almost completely unacceptable, if only because the theological ramifications of the Theory, especially as popularly communicated today, are quite atrocious; presenting the chief obstacle to our salvation to be not Sin and Death, but God Himself. But this is a position I've come to only after many years.
-CryptoLutheran