Expositor's Bible Commentary Commentary 1 Peter 1:7

"that the proof of your faith, [being] more precious than gold that perisheth though it is proved by fire, may be found unto praise and glory and honor at the revelation of Jesus Christ:" — 1 Peter 1:7 (ASV)

When gold is refined, its impurities are removed by a fiery process. Though extremely durable, it belongs to the perishing world-order. Faith, which is more valuable than gold because it lasts longer and reaches beyond this temporal order, is purified in the tests of life. Gold, not faith, is presently highly valued by people. But God will set his stamp of approval on faith that has been tested and will show this when Christ is revealed. Then believers will openly share in the praise, glory, and honor of God.