The Price

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We really see two separate points in verse 18. It starts with one idea, moves to a different idea, then returns to the first idea. We’ll look at the second one first.
ii. Without Christ, mankind lives an empty lifestyle. (1:18, Psalm 39:4–6, Ecclesiastes 1:2–9, Acts 14:8–15, Romans 1:20–21, 6:21–22, 1 Corinthians 3:18–20)

self-deceiving, unreal, and unprofitable: promising good which it does not perform.

Both of these things describe a life of sin. They describe any life that is lived apart from God. It promises good, but delivers only death. We see that kind of thing revealed in Proverbs a lot of times, where wickedness is shown to only lead to destruction.
Some people think this “vain conversation” is referring to the Jewish oral traditions that Jesus combated during His time on earth. These truly were empty rituals that had nothing to do with God, but I believe based on some later verses that the primary audience of this letter were Gentiles. However, it’s entirely possible that both groups were part of the churches Peter wrote to. Both Jewish and Gentile customs are referred to as vain throughout Scripture.
Really, the term “vain conversation” can apply to any life lived outside Christ. Hypocritical, false worship of the true God, and pagan worship of a false god lead ultimately to the same place. All of it is vanity.
As I mentioned, we see many passages in the prophets were the empty Jewish customs are called something like “vain traditions received from your fathers.” We also see all of mankind, in its quest to build up little kingdoms, is vain.
Psalm 39:4–6 KJV
Lord, Make me to know mine end, And the measure of my days, what it is; That I may know how frail I am. Behold, thou hast made my days as an handbreadth; And mine age is as nothing before thee: Verily every man at his best state is altogether vanity. Selah. Surely every man walketh in a vain shew: Surely they are disquieted in vain: He heapeth up riches, and knoweth not who shall gather them.
Ecclesiastes 1:2–9 KJV
Vanity of vanities, saith the Preacher, vanity of vanities; all is vanity. What profit hath a man of all his labour which he taketh under the sun? One generation passeth away, and another generation cometh: but the earth abideth for ever. The sun also ariseth, and the sun goeth down, and hasteth to his place where he arose. The wind goeth toward the south, and turneth about unto the north; it whirleth about continually, and the wind returneth again according to his circuits. All the rivers run into the sea; yet the sea is not full; unto the place from whence the rivers come, thither they return again. All things are full of labour; man cannot utter it: the eye is not satisfied with seeing, nor the ear filled with hearing. The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun.
Pagan rituals are vain.
Romans 1:20–21 KJV
For the invisible things of him from the creation of the world are clearly seen, being understood by the things that are made, even his eternal power and Godhead; so that they are without excuse: Because that, when they knew God, they glorified him not as God, neither were thankful; but became vain in their imaginations, and their foolish heart was darkened.
Romans 6:21–22 KJV
What fruit had ye then in those things whereof ye are now ashamed? for the end of those things is death. But now being made free from sin, and become servants to God, ye have your fruit unto holiness, and the end everlasting life.
The great philosophers of the past, counted wise by the world, are vain in God’s eyes.
1 Corinthians 3:18–20 KJV
Let no man deceive himself. If any man among you seemeth to be wise in this world, let him become a fool, that he may be wise. For the wisdom of this world is foolishness with God. For it is written, He taketh the wise in their own craftiness. And again, The Lord knoweth the thoughts of the wise, that they are vain.
[give background for this]
And on the pedestal, these words appear:
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
Nothing beside remains. Round the decay
Of that colossal Wreck, boundless and bare
The lone and level sands stretch far away.
Percy Bysshe Shelley
Interestingly enough, the pharoah mentioned—Ozymandias—is thought by many to be the same pharoah from the book of Exodus. He was one of the greatest kings of Egypt, but God brought him to nothing. Many of his monuments remain, but what good are they doing him now? It was all a vain attempt to find purpose apart from God.
Everything apart from God is vanity. Everything is meaningless. Only in light of the Bible can the world make sense.
iii. The price of salvation was Jesus’ own blood. (1:18–20, Exodus 30:11–16, 1 Peter 1:7; Matthew 20:28, 1 Corinthians 6:19–20, 7:23–24, Revelation 5:9–10; Exodus 12:5, Acts 8:32, Hebrews 9:13–14; Genesis 3:15, Psalm 90:2–4, Micah 5:2, Revelation 13:8; Ephesians 3:8–12, Romans 5:1–11)
Now we’ll return to the first part of verse 18 and follow that point through the next couple of verses. We’re going to see just how perfect and precious of a sacrifice for sins Jesus was. This was what it cost to redeem us from our sins.

To know what our sin is we must know what it cost.

Let’s start breaking this down piece by piece.
“Forasmuch as” means “in view of the fact that.” It directly ties into the previous verse because it’s part of the same sentence. We are to pass the time of our sojourning here in fear because of the fact that…what? Let’s look.
We looked at the word “corruptible” earlier when talking about the inheritance of the Christian. Our inheritance is not moral. It cannot perish, but will last forever. But silver and gold are corruptible and will one day be destroyed with the world.
1 Peter 1:7 KJV
That the trial of your faith, being much more precious than of gold that perisheth, though it be tried with fire, might be found unto praise and honour and glory at the appearing of Jesus Christ:
We can thank God that we were not redeemed with things that are part of this world. Things of this world are subject to sin and only temporary.
Like with the “vain conversation” thing, there are different thoughts on what specifically Peter could be referring to depending on his audience. Is he just speaking generally, saying that silver and gold cannot earn us salvation?
If he’s writing to Jews, he could be referring to the Old Testament practice of paying half a shekel to support the work of the temple to cover their sins.
Exodus 30:11–13 KJV
And the Lord spake unto Moses, saying, When thou takest the sum of the children of Israel after their number, then shall they give every man a ransom for his soul unto the Lord, when thou numberest them; that there be no plague among them, when thou numberest them. This they shall give, every one that passeth among them that are numbered, half a shekel after the shekel of the sanctuary: (a shekel is twenty gerahs:) an half shekel shall be the offering of the Lord.
And indeed, as we will see later, Jesus was the perfect sacrifice who perfectly covered our sins so we no longer have to pay such a ransom.
If he was writing to Gentiles, as I believe, he could be drawing a comparison with slavery, and how slaves could be bought out of servitude or, in some cases, pay off their own debt. We were not bought from slavery to sin with mere money.
Whether Peter is talking about a specific cultural custom or just generally about salvation not being earned, the main point is the same. Jesus did not buy us with gold from the treasure vaults of heaven. He bought us with His own blood. He gave His life for ours.
Matthew 20:28 KJV
Even as the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many.
1 Corinthians 6:19–20 KJV
What? know ye not that your body is the temple of the Holy Ghost which is in you, which ye have of God, and ye are not your own? For ye are bought with a price: therefore glorify God in your body, and in your spirit, which are God’s.
1 Corinthians 7:23–24 KJV
Ye are bought with a price; be not ye the servants of men. Brethren, let every man, wherein he is called, therein abide with God.
Revelation 5:9–10 KJV
And they sung a new song, saying, Thou art worthy to take the book, and to open the seals thereof: for thou wast slain, and hast redeemed us to God by thy blood out of every kindred, and tongue, and people, and nation; And hast made us unto our God kings and priests: and we shall reign on the earth.
“Precious” is the same word used for precious stones. But not even that is strong enough of a descriptor. This is the very blood of God. This is perfect, pure blood of infinite value, spilled from an infinite God. It’s more valuable than the purest gold and silver, more precious than the most finely-cut diamond. And it is this that bought our redemption.
Next, Jesus’ sacrifice was as a lamb without blemish and without spot. This without a doubt ties back to Old Testament law.
Exodus 12:5 KJV
Your lamb shall be without blemish, a male of the first year: ye shall take it out from the sheep, or from the goats:
Their sacrifices had to be perfect or else they could not adequately cover sins. God, in some of the prophetic books, even got after the children of Israel for offering sacrifices with blemish. Jesus was that perfect sacrifice for us.
Hebrews 9:13–14 KJV
For if the blood of bulls and of goats, and the ashes of an heifer sprinkling the unclean, sanctifieth to the purifying of the flesh: How much more shall the blood of Christ, who through the eternal Spirit offered himself without spot to God, purge your conscience from dead works to serve the living God?
I can’t be too dogmatic about this, but one commentary broke down the Greek words and made an interesting point. It said “without blemish” means nothing was wrong with Jesus in Himself. He carried to self-given impurity. “Without spot” means He did not get any impurity from contact with others. Contrarily, His holiness was contagious as He healed diseases and forgave sins. Whether those two phrases do mean that or not, both of those things are true of Jesus. He was holy inside and out to account for our complete unholiness.
Next, Jesus’ sacrifice was foreordained before the foundation of the world. We saw a couple of weeks ago a bunch of prophecies of Christ. The earliest is found in Genesis, right after the first sin:
Genesis 3:15 KJV
And I will put enmity between thee and the woman, and between thy seed and her seed; it shall bruise thy head, and thou shalt bruise his heel.
But this passage indicates that, even before God gave that first Gospel prophecy, Jesus was ordained to die for the sins of mankind.
Revelation 13:8 KJV
And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.
Exploring the Epistles of Peter: An Expository Commentary a. As to the past Purpose of God (1:20a)

So it was that, before God ever stooped down to fashion Adam’s clay, before the song of the seraphim ever awoke the echoes of the everlasting hills, before the galaxies were ever flung into orbit, God the Father, God the Son, and God the Holy Spirit conceived the plan to redeem Adam’s ruined race when once the Fall transpired.

Remember the lesson a couple of weeks ago about all those prophecies the great men of the Old Testament gave but did not understand. Jesus was chosen to be the sacrifice before Adam was even created, but humans did not know this until much later. This leads to the next phrase.
We, as New Testament Christians, get to see what the Old Testament believers did not understand. The plan of redemption was crafted before the foundation of the world, was foreshadowed by prophets, and was revealed to us through Jesus.
Ephesians 3:8–12 KJV
Unto me, who am less than the least of all saints, is this grace given, that I should preach among the Gentiles the unsearchable riches of Christ; And to make all men see what is the fellowship of the mystery, which from the beginning of the world hath been hid in God, who created all things by Jesus Christ: To the intent that now unto the principalities and powers in heavenly places might be known by the church the manifold wisdom of God, According to the eternal purpose which he purposed in Christ Jesus our Lord: In whom we have boldness and access with confidence by the faith of him.
This is a common theme in the Bible. The Old Testament was the age of looking and waiting for. The age of ignorance and anticipation. The New Testament is the age of knowledge and action. Now that the mystery has been revealed, all nations must know the manifold wisdom of God. The mystery was not just revealed in an obscure academic journal somewhere that few people will find. It was published abroad and delivered by someone to each one of us.
Why was this mystery manifest? For you. This is the second time we’ve seen this phrase. It’s such a personal phrase. It is plural, but that makes it no less personal; it still refers to a specific group of people. Salvation was manifested so that everyone and each one could have peace with God.
Romans 5:1–11 KJV
Therefore being justified by faith, we have peace with God through our Lord Jesus Christ: By whom also we have access by faith into this grace wherein we stand, and rejoice in hope of the glory of God. And not only so, but we glory in tribulations also: knowing that tribulation worketh patience; And patience, experience; and experience, hope: And hope maketh not ashamed; because the love of God is shed abroad in our hearts by the Holy Ghost which is given unto us. For when we were yet without strength, in due time Christ died for the ungodly. For scarcely for a righteous man will one die: yet peradventure for a good man some would even dare to die. But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life. And not only so, but we also joy in God through our Lord Jesus Christ, by whom we have now received the atonement.
iv. Jesus was raised again to be the source of all faith and hope. (1:21, Psalm 2, 110, Hebrews 12:1–2; Habakkuk 2:4, 2 Corinthians 5:7)
“Who” connects with the “you” of verse 20, and “by him” means “by means of Jesus.” Thus, “You, by means of Jesus, do believe in God.”
This was one of the many reasons Jesus died. We’ve already seen some, such as our holiness, but it was also so that we would believe in God and trust Him. By believing God raised Jesus from the dead, as we do in salvation, we are able to believe anything else God says. What could be more miraculous or unbelievable than a Man coming back to life of His own power?
God not only raised Jesus from the dead, but also gave Him glory.
Psalm 110:1–2 KJV
The Lord said unto my Lord, Sit thou at my right hand, Until I make thine enemies thy footstool. The Lord shall send the rod of thy strength out of Zion: Rule thou in the midst of thine enemies.
Hebrews 12:1–2 KJV
Wherefore seeing we also are compassed about with so great a cloud of witnesses, let us lay aside every weight, and the sin which doth so easily beset us, and let us run with patience the race that is set before us, Looking unto Jesus the author and finisher of our faith; who for the joy that was set before him endured the cross, despising the shame, and is set down at the right hand of the throne of God.
The verse concludes with one final reason Jesus died. It is so that our faith and hope might be in God. Faith and hope, like grace and peace in verse 2, are such common Christian terms that it’s worth spending a minute examining what this means.
Faith refers to what we place our trust in. What we have confidence in now. We live by faith.
Habakkuk 2:4 KJV
Behold, his soul which is lifted up is not upright in him: But the just shall live by his faith.
We walk by faith.
2 Corinthians 5:7 KJV
(For we walk by faith, not by sight:)
Faith is how we please and serve God now. Faith is the road ahead of us as we obey God’s commands with faith that He will protect and guide us. Hope is how we view the future. It is our sure expectation of future reward that motivates us to serve God now. And then a couple of verses earlier we see that our past was also touched by salvation. We were redeemed from a vain conversation.
It shows the wholeness of salvation. God is not just for the future, and we have to work in our own power now. God is not just for the present, where we have no expectation of things getting better. God is not just for our past, that we have to work out our own path after being saved. He is for all of those things. He saves us from our ignorant past in vain traditions, gives us faith to walk in every day, and gives a hope of glory in the future. Past sins, present faith, and future hope are all wrapped up in God alone. In salvation He becomes the center of it all.
As we come to the end of this section, it’s important to remember why Peter even went on this little side expedition into doctrine. All of this is support for the command that we pass the time of our sojourning in fear. Or, in other words, that we be holy.

Holiness is the natural fruit of redemption “from our vain conversation”; for He by whom we are redeemed is also He for whom we are redeemed.

All of this doctrine is not just for head knowledge to make us feel smart. It’s not even just encouraging news to make us happy. It is truth that must move us to act.
The Bible Knowledge Commentary 2. The Price (1:17–21)

The high cost of salvation—the beloved Son’s precious blood—calls for believers to live in reverent fear before God. Holy living is motivated by a God-fearing faith which does not take lightly what was purchased at so great a cost.

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