1 Peter 1:18

Another motive to reverential, vigilant fear (Pe1 1:17) of displeasing God, the consideration of the costly price of our redemption from sin. Observe, it is we who are bought by the blood of Christ, not heaven. The blood of Christ is not in Scripture said to buy heaven for us: heaven is the "inheritance" (Pe1 1:4) given to us as sons, by the promise of God. corruptible--Compare Pe1 1:7, "gold that perisheth," Pe1 1:23. silver and gold--Greek, "or." Compare Peter's own words, Act 3:6 : an undesigned coincidence. redeemed--Gold and silver being liable to corruption themselves, can free no one from spiritual and bodily death; they are therefore of too little value. Contrast Pe1 1:19, Christ's "precious blood." The Israelites were ransomed with half a shekel each, which went towards purchasing the lamb for the daily sacrifice (Exo 30:12-16; compare Num 3:44-51). But the Lamb who redeems the spiritual Israelites does so "without money or price." Devoted by sin to the justice of God, the Church of the first-born is redeemed from sin and the curse with Christ's precious blood (Mat 20:28; Ti1 2:6; Tit 2:14; Rev 5:9). In all these passages there is the idea of substitution, the giving of one for another by way of a ransom or equivalent. Man is "sold under sin" as a slave; shut up under condemnation and the curse.

— Jamieson-Fausset-Brown Commentary (public domain)