Originally released on the Key Records label, 'Paid on the Nail' was Graham's third album and a landmark in his ministry.

It continued the acoustic/folky style which had been Graham's hallmark in his earlier recordings but also introduced a wider variety and sutblety of arrangements and other instruments (Peter Roe played the Moog synthesiser!). The songs were written while Graham was part of a team ministry called 'In the name of Jesus' who engaged in evangelism and church renewal around the UK.

Caiaphas and the Temple Guard and How Much Do You Think You Are Worth? were re-recorded in 2004 for Sacred Journey and in 2010 for The Acoustic Gospels. Beautiful Night was also re-recorded in 2010 for The Acoustic Gospels.