1 Peter 1:18

Knowing that you were not redeemed with corruptible things, with gold or silver, etc. The greater the price by which you were redeemed from the corruption of carnal life, the more you ought to fear, lest perhaps by returning to the corruption of vices you …

Scripture distinguishes a twofold fear, one — preliminary, the other — perfect. The preliminary fear, which is also the foundational one, consists in someone turning to an honorable life out of dread of accountability for one's deeds, while the perfect one consists in someone, for …

Forasmuch as ye know,.... From the Scriptures of truth, by the testimony of the Spirit, by his work upon the soul, and by the application of the benefits of redemption, such as justification, pardon, adoption, and sanctification; see Job 19:25, that ye were not redeemed with corruptible things, as silver and gold. The redemption of a soul, which is of more worth than a world, requires a greater price than gold and silver; and those who have the largest share thereof, can neither redeem their own souls with it, nor the souls of others.

Man is "sold under sin" as a slave; shut up under condemnation and the curse. The ransom was, therefore, paid to the righteously incensed Judge, and was accepted as a vicarious satisfaction for our sin by God, inasmuch as it was His own love as well as righteousness which appointed it.

Forasmuch as ye know - This is an argument for a holy life, derived from the fact that they were redeemed, and from the manner in which their redemption had been effected. There is no more effectual way to induce true Christians to consecrate themselves entirely to God, than to refer them to the fact that they are not their own, but have been purchased by the blood of Christ. That ye were not redeemed - On the word rendered “redeemed,” (λυτρόω lutroō,) see the notes at Tit 2:14. The word occurs in the New Testament only in Luk 24:21; Tit 2:14, and in this place. The noun (λύτρον lutron) is found in Mat 20:28; Mar 10:45, rendered ransom. For the meaning of the similar word, (ἀπολύτρωσις apolutrōsis,) see the notes at Rom 3:24. This word occurs in Luk 21:28; Rom 3:24; Rom 8:23; 1Co 1:30; Eph 1:7, Eph 1:14; Eph 4:30; Col 1:14; Heb 9:15, in all which places it is rendered redemption; and in Heb 11:35, where it is rendered “deliverance.” The word here means that they were rescued from sin and death by the blood of Christ, as the valuable consideration on account of which it was done; that is, the blood, or the life of Christ offered as a sacrifice, effected the same purpose in regard to justice and to the maintenance of the principles of moral government, which the punishment of the sinner himself would have done. It was that which God was pleased to accept in the place of the punishment of the sinner, as answering the same great ends in his administration. The principles of his truth and justice could as certainly be maintained in this way as by the punishment of the guilty themselves. If so, then there was no obstacle to their salvation; and they might, on repentance, be consistently pardoned and taken to heaven. With corruptible things, as silver and gold - On the word “corruptible,” as applicable to gold, see the notes at 1Pe 1:7. […]