For you know that it was not with perishable things such as silver or gold that you were redeemed from the empty way of life handed down to you from your ancestors, but with the precious blood of Christ, a lamb without blemish or defect. I Peter 1:18-19 (NIV)

The word precious refers to something rare, costly, and valuable. There is nothing more valuable than the blood of God’s own Son. However, the Creator of the universe saw such value in you and me that He decided we were worth the preccious blood of Christ. No higher price couldbe paid. And that precious blood shows us our value and worth to our heavenly Father. We must see ourselves the way He does: of infinite value.

That precious blood not only bought us back from the dominion of sin and death, but it provides such valuable benefits as divine protection.

We know [absolutely] that anyone born of God does not [deliberately and knowingly] practice committing sin, but the One Who was begotten of God carefully watches over and protects him [Christ’s divine presence within him preserves him against the evil], and the wicked one does not lay hold (get a grip) on him or touch [him]. I John 5:18 (Amplified Bible Classic Edition, AMPC).

The priceless blood of the Lamb also provided healing. Jesus took the stripes of the Roman’s whip on His back, and blood flowed from the gruesome wounds they inflicted.

Who Himself bore our sins in His own body on the tree, that we, having died to sins, might live for righteousness—by whose stripes you were healed. I Peter 2:24 (NKJV)

We also obtain access to the Father by the blood of Jesus, as well as peace, provision for our needs, and numerous other benefits. We cannot estimate the price of such a sacrifice. The blood of Jesus is precious indeed.