1 Peter 1:19
 but with the precious blood of Christ, like that of a lamb without blemish or spot. (ESV)
In the previous verse Peter tells us that we have been ransomed from our futile ways inherited by our forefathers. He tells us the price paid was not with perishable things like silver or gold. He then tells us in today's verse the actual purchase price of our sinful lives. It was with the very blood of Jesus Christ, God's son. Does that seem extravagant? It should.
It is fascinating that gold and silver are described as perishable. We call these precious metals in our world. They are of the greatest value. Nations have fought to the death over the possession of gold and silver. As much of a price that humankind places on them, they do not even begin to compare with the eternal worth of Jesus Christ.
Gold and silver, as precious and valuable as they are, will some day be destroyed. Peter says in his second epistle, "The heavens and earth that now exist are stored up for fire, being kept until the day of judgment" (2 Peter 3:7). Even gold and silver will be destroyed. So, then, we would need to be ransomed by something that cannot be destroyed. Peter describes is for us.
The precious blood of Christ is the payment for our sins. The Israelites were told in the Old Testament to take an innocent lamb, shed its blood, and sacrifice it unto the Lord for their sins. The blood sacrifice was meant as a picture of the perfect lamb of God, who was still to come, who would sacrifice his very blood for our ransom. His holy, blameless, perfect blood was what it required to ransom us.
As you live each day, consider that you were purchased from your sinful way of life by something more valuable than gold and silver. Ask the Lord to help you to live a life that glorifies the one who shed his blood for you.