Albert Barnes Commentary 1 Peter 1:19

"but with precious blood, as of a lamb without spot, [even the blood] of Christ:" — 1 Peter 1:19 (ASV)

But with the precious blood of Christ. On the use of the word blood, and the reason why the efficacy of the atonement is said to be in the blood, see Barnes on Romans 3:25.

The word precious (timios) is a word that would be applied to that which is worth much, which is costly. Compare, for the use of the noun (timē) in this sense, Matthew 27:6, “The price of blood;”Acts 4:34; Acts 5:2–3; Acts 7:16.

See also for the use of the adjective (timios), Revelation 17:4, “gold and precious stones;”Revelation 18:12, “vessels of most precious wood;”Revelation 21:11, “a stone most precious.” The meaning here is that the blood of Christ had a value above silver and gold; it was worth more, namely:

1. In itself—being a more valuable thing; and
2. In effecting our redemption.

It accomplished what silver and gold could not do. The universe had nothing more valuable to offer, of which we can conceive, than the blood of the Son of God.

As of a lamb. That is, of Christ regarded as a lamb offered for sacrifice. See Barnes on John 1:29.

Without blemish and without spot. Such a lamb only was allowed to be offered in sacrifice (Leviticus 22:20–24; Malachi 1:8). This was required for the following reasons:

1. Because it was proper that humans should offer that which was regarded as perfect in its kind; and
2. Because only that would be a proper symbol of the great sacrifice which was to be made by the Son of God.

The idea was thus maintained from age to age that He, of whom all these victims were the emblems, would be perfectly pure.