And when they had crucified Him, they divided up His garments among themselves by casting lots. And sitting down, they begun to keep watch over Him there. And above His head they put up the charge against Him which read, "THIS IS JESUS THE KING OF THE JEWS." Matt. 27:35-37, NASB.
Meanings of the cross depend on the vantage point from which we view it. For the soldiers it was merely one more day of work. Another crucified cluster of Jewish scum. So what? And they passed some of the time gambling as they awaited the death of Jesus and the two robbers. They had not the foggiest idea of what they had done or its significance. Probably they would have laughed if told that they had just crucified the incarnate God, the active agent in the creation of heaven and earth. To them He was merely one more troublesome Jew.
Then there was that sign: "THIS IS JESUS THE KING OF THE JEWS." Here was a bit of payback from Pilate to the Jewish leaders who had bested him in his desire to free Jesus. He hadn't cared for Jesus as a person, but he was tired of the craftiness of the leading members of the Sanhedrin who were constantly causing him difficulties.
As a result, Pilate could send Jesus to a nasty death without remorse. But at the same time he took the opportunity to take a whack at the Jews with his sign.
And it did upset the leaders, especially since it was written in Hebrew, Latin, and Greek and thus could be read by many. That, John tells us, meant another trip for the Jewish leaders to Pilate requesting that he change the wording to "This man said, I am the king of the Jews." The Roman governor's answer was a smug one: "What I have written I have written" (see John 19:19-22, RSV).
Revenge is sweet. But beyond revenge Pilate's sign functioned as a billboard, announcing, in effect, that any person who posed as a king of the Jews could expect similar treatment. And that fact cut the Jews to the quick and flattened their pride.
But above all of the sparing, the most interesting aspect of the sign is that it was true. Jesus was in fact the Messiah/King of the Jews.
Pilate had the truth but didn't know it. The Jewish leaders had their Messiah but didn't recognize Him. The busy soldiers had participated in the central event of history but were not aware of it. It is no wonder that Jesus cried out, "Father, forgive them; for they know not what they do" (Luke 23:34, RV). There is a wideness in God's mercy.