Replace a string in shell script using a variable

Question

I am using the below code for replacing a string inside a shell script.

echo $LINE | sed -e \'s/12345678/\"$replace\"/g\'

but it\'s getting

Answer 1

Not specific to the question, but for folks who need the same kind of functionality expanded for clarity from previous answers:

# create some variables
str="someFileName.foo"
find=".foo"
replace=".bar"
# notice the the str isn't prefixed with $
#    this is just how this feature works :/
result=${str//$find/$replace}
echo $result    
# result is: someFileName.bar

str="someFileName.sally"
find=".foo"
replace=".bar"
result=${str//$find/$replace}
echo $result    
# result is: someFileName.sally because ".foo" was not found