The word precious refers to that which is valuable or even priceless.  There is nothing more precious than the blood of Christ.

1 Peter 1:18-19 (ESV)
¹⁸ Knowing that you were ransomed from the futile ways inherited from your forefathers, not with perishable things such as silver or gold, 19 but with the precious blood of Christ, like that of a lamb without blemish or spot.

The substance of our Lord’s blood was not unique.  The human body of Jesus had the same kind of blood that you and I have running through our veins.  The preciousness of our Lord’s blood is seen in that it has the power to free us from our sins (Revelation 1:5).

Why is the blood of Jesus so powerful?  It is because it is the blood of a man who lived without blemish or spot.  This is what qualified Christ to pay the price for our sins.  He was able to do so because He was without sin.  Remember, the wage of sin is death (Romans 6:23).  This does not refer to spiritual death; it refers to physical death.  Spiritual death is the consequence of sin, not the price for it.  If spiritual death was the wage of sin, everybody would pay it for themselves when they sinned because that is what sin does—separates from God (Isaiah 59:1-2), which is spiritual death.  So, the price for sin is literal, physical death.  By dying on the cross, Jesus gave man the hope of regaining immortality.  Paul said that Jesus, “…abolished death and brought life and immortality to light through the gospel” (2 Peter 1:10).

If the wage of sin is death, why could we not pay the price ourselves by simply dying.  Why did the Son of God have to leave heaven to die on a cross?  The reason we cannot pay the price ourselves is because we are sinners.  To die in sin is to be eternally lost (Revelation 21:8).

Jesus, however, never sinned; thus, He could die, paying the price for sin without being eternally lost.  Who else could do this other than Jesus?  It does not take us long to calculate the number because it is zero.  No one else has ever lived sinlessly.  No one else has ever been without blemish or spot.  This is what separates Jesus from everybody else.  It is what made His death, and, therefore, His blood, so precious.

How do we take advantage of the blood of Christ?  The answer is by being baptized.  Baptism puts us into contact with our Lord’s blood.  Paul said that we are baptized into His death (Romans 6:3).  This is why Jesus could say He shed His blood for the forgiveness of sins (Matthew 26:28), and Peter could say that we are baptized for the forgiveness of sins (Acts 2:38).  There is no contradiction between Jesus and Peter because it is in the waters of baptism that the blood of Christ washes away our sins.

The precious blood of Jesus does not stop helping us after we are baptized.  The power of His blood continues to work in our lives and helps us to preserve our fellowship with God (1 John 1:7).  Thank God for the blood of Jesus!  It is because of the precious, cleansing blood of Christ that we do not have to be sinless to be saved.  In fact, John says that if we say that we have no sin the truth is not in us (1 John 1:8).  Fortunately, if we repent and continue to walk in the light, the blood of Christ keeps on washing away our sins.  Only the gospel offers this blessing.

The Law of Moses did not have this ability.  This is why no flesh was ever justified by the Law (Acts 13:9; Romans 3:20).  Only in Christ do we have this wonderful access to the blood of Christ.  Now, even though we, spiritually speaking, all have our warts and weakness, we can fall asleep every night knowing that we are in fellowship with God.  Why?  Because of the precious blood of Jesus.

As you wind down for the night, think about these things.