That the trial of your faith, being much more precious than of gold that perisheth, though it be tried with fire, might be found unto praise and honour and glory at the appearing of Jesus Christ:

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:

That the trial of your faith (much more precious than gold which is tried by the fire) may be found unto praise and glory and honour at the appearing of Jesus Christ:

that the proving of your faith, much more precious than of gold which perishes, though it be proved by fire, be found to praise and glory and honour in the revelation of Jesus Christ:

that the proof of your faith, being more precious than gold that perisheth though it is proved by fire, might be found unto praise and glory and honour at the revelation of Jesus Christ:

That the trial of your faith, being much more precious than of gold that perisheth, though tried with fire, might be found to praise, and honor, and glory, at the appearing of Jesus Christ:

that the proof of your faith, much more precious than of gold that is perishing, and through fire being approved, may be found to praise, and honour, and glory, in the revelation of Jesus Christ,

That the trial of your faith, being much more precious than of gold that perishes, though it be tried with fire, might be found to praise and honor and glory at the appearing of Jesus Christ:

The sorrow comes in order that the testing of your faith - being more precious than that of gold, which perishes and yet is proved by fire - may be found to result in praise and glory and honour at the re-appearing of Jesus Christ.

So that the true metal of your faith, being of much greater value than gold (which, though it comes to an end, is tested by fire), may come to light in praise and glory and honour, at the revelation of Jesus Christ:

that the genuineness of your faith, which is more precious than gold that perishes even though it is tested by fire, may be found to result in praise, glory, and honor at the revelation of Jesus Christ

so that the testing of your faith, which is much more precious than gold tested by fire, may be found in praise and glory and honor at the revelation of Jesus Christ.

that the genuineness of your faith – a thing far more precious than gold, which is perishable, yet has to be tested by fire – may win praise and glory and honor at the appearing of Jesus Christ.

Much more precious than of gold The argument is from the less to the greater; for if gold, a corruptible metal, is deemed of so much value that we prove it by fire, that it may become really valuable, what wonder is it that God should require a similar trial as to faith, since faith is deemed by him so excellent? And though the words seem to have a different meaning, he yet compares faith to gold, and makes it more precious than gold, that hence he might draw the conclusion, that it ought to be fully proved. [1] It is moreover uncertain how far he extends the meaning of the words, "tried" dokimazesthai and "trial" dokimion Gold is, indeed, tried twice by fire; first, when it is separated from its dross; and then, when a judgment is to be formed of its purity. Both modes of trial may very suitably be applied to faith; for when there is much of the dregs of unbelief remaining in us, and when by various afflictions we are refined as it were in God's furnace, the dross of our faith is removed, so that it becomes pure and clean before God; and, at the same time, a trial of it is made, as to whether it be true or fictitious. I am disposed to take these two views, and what immediately follows seems to favor this explanation; for as silver is without honor or value before it be refined, so he intimates that our faith is not to be honored and crowned by God until it be duly proved. At the appearing of Jesus Christ, or, when Jesus Christ shall be revealed. This is added, that the faithful might learn to hold on courageously to the last day. For our life is now hidden in Christ, and will remain hidden, and as it were buried, until Christ shall appear from heaven; and the whole course of our life leads to the destruction of the external man, and all the things we suffer are, as it were, the preludes of death. It is hence necessary, that we should cast our own eyes on Christ, if we wish in our afflictions to behold glory and praise. For trials as to us are full of reproach and shame, and they become glorious in Christ; but that glory in Christ is not yet plainly seen, for the day of consolation is not yet come. [2]

Footnotes

1 - The seeming difference in meaning referred to, arises from this, that the Apostle uses two nouns (a common thing in Scripture) instead of a noun and an adjective or participle -- "the trial of your faith," instead of "your tried faith," or, "your faith when tried." -- Ed.

2 - The "praise, honor, and glory," refer to tried faith; it will be praised or approved by the Judge, honored before men and angels, and followed by eternal glory. -- Ed.

That the trial of your faith - The putting of your religion to the test, and showing what is its real nature. Compare James 1:3, James 1:12.
Being much more precious than of gold - This does not mean that their faith was much more precious than gold, but that the testing of it, (δοκίμιον dokimion,) the process of showing whether it was or was not genuine, was a much more important and valuable process than that of testing gold in the fire. More important results were to be arrived at by it, and it was more desirable that it should be done.
That perisheth - Not that gold perishes by the process of being tried in the fire, for this is not the fact, and the connection does not demand this interpretation. The idea is, that gold, however valuable it is, is a perishable thing. It is not an enduring, imperishable, indestructible thing, like religion. It may not perish in the fire, but it will in some way, for it will not endure forever.
Though it be tried with fire - This refers to the gold. See the Greek. The meaning is, that gold, though it will bear the action of fire, is yet a destructible thing, and will not endure forever. It is more desirable to test religion than it is gold, because it is more valuable. It pertains to that which is eternal and indestructible, and it is therefore of more importance to show its true quality, and to free it from every improper mixture.
Might be found unto praise - That is, might be found to be genuine, and such as to meet the praise or commendation of the final judge.
And honor - That honor might be done to it before assembled worlds.
And glory - That it might be rewarded with that glory which will be then conferred on all who have shown, in the various trials of life, that they had true religion.
At the appearing of Jesus Christ - To judge the world. Compare Matthew 25:31; Acts 1:11; 1-Thessalonians 4:16; 2-Thessalonians 2:8; 1-Timothy 6:14; 2-Timothy 4:1, 2-Timothy 4:8; Titus 2:13. From these two verses 1-Peter 1:6-7 we may learn:
I. That it is desirable that the faith of Christians should be tried:
(a) It is desirable to know whether that which appears to be religion is genuine, as it is desirable to know whether that which appears to be gold is genuine. To gold we apply the action of intense heat, that we may know whether it is what it appears to be; and as religion is of more value than gold, so it is more desirable that it should be subjected to the proper tests, that its nature may be ascertained. There is much which appears to be gold, which is of no value, as there is much which appears to be religion, which is of no value. The one is worth no more than the other, unless it is genuine.
(b) It is desirable in order to show its true value. It is of great importance to know what that which is claimed to be gold is worth for the purposes to which gold is usually applied; and so it is in regard to religion. Religion claims to be of more value to man than anything else. It asserts its power to do that for the intellect and the heart which nothing else can do; to impart consolation in the various trials of life which nothing else can impart; and to give a support which nothing else can on the bed of death. It is very desirable, therefore, that in these various situations it should show its power; that is, that its friends should be in these various conditions, in order that they may illustrate the true value of religion.
(c) It is desirable that true religion should be separated from all alloy. There is often much alloy in gold, and it is desirable that it should be separated from it, in order that it may be pure. So it is in religion. It is often combined with much that is unholy and impure; much that dims its lustre and mars its beauty; much that prevents its producing the effect which it would otherwise produce. Gold is, indeed, often better, for some purposes, for having some alloy mixed with it; but not so with religion. It is never better for having a little pride, or vanity, or selfishness, or meanness, or worldliness, or sensuality mingled with it; and that which will remove these things from our religion will be a favor to us.
II. God takes various methods of trying his people, with a design to test the value of their piety, and to separate it from all impure mixtures:
(1) He tries his people by prosperity - often as decisive a test of piety as can be applied to it. There is much pretended piety, which will bear adversity, but which will not bear prosperity. The piety of a man is decisively tested by popularity; by the flatteries of the world; by a sudden increase of property; and in such circumstances it is often conclusively shown that there is no true religion in the soul.
(2) he tries his people in adversity. He lays his hand on them heavily, to show:
(a) whether they will bear up under their trials, and persevere in his service;
(b) to show whether their religion will keep them from murmuring or complaining;
(c) to show whether it is adapted to comfort and sustain the soul.
(3) he tries his people by sudden transition from one to the other. We get accustomed to a uniform course of life, whether it be joy or sorrow; and the religion which is adapted to a uniform course may be little suited to transitions from one condition of life to another. In prosperity we may have shown that we were grateful, and benevolent, and disposed to serve God; but our religion will be subjected to a new test, if we are suddenly reduced to poverty. In sickness and poverty, we learn to be patient and resigned, and perhaps even happy. But the religion which we then cultivated may be little adapted to a sudden transition to prosperity; and in such a transition, there would be a new trial of our faith. That piety which shone so much on a bed of sickness, might be little suited to shine in circumstances of sudden prosperity. The human frame may become accustomed either to the intense cold of the polar regions, or to the burning heats of the equator; but in neither case might it bear a transition from one to the other. It is such a transition that is a more decisive test of its powers of endurance than either intense heat or cold, if steadily prolonged.
III. Religion will bear any trial which may be applied to it, just as gold will bear the action of fire.
IV. Religion is imperishable in its nature. Even the most pure gold will perish. Time will corrode it, or it will be worn away by use, or it will be destroyed at the universal conflagration; but time and use will not wear out religion, and it will live on through the fires that will consume everything else.
V. Christians should be willing to pass through trials:
(a) They will purify their religion, just as the fire will remove dross from gold.
(b) They will make it shine more brightly, just as gold does when it comes out of the furnace.
(c) They will disclose more fully its value.
(d) They will furnish an evidence that we shall be saved; for that religion which will bear the tests that God applies to it in the present life, will bear the test of the final trial.

That the trial of your faith, being much more precious than of gold - As by the action of fire gold is separated from all alloy and heterogeneous mixtures, and is proved to be gold by its enduring the action of the fire without losing any thing of its nature, weight, color, or any other property, so genuine faith is proved by adversities, especially such as the primitive Christians were obliged to pass through. For the word was then, "Renounce Jesus and live," "Cleave to him and die;" for every Christian was in continual danger of losing his life. He then who preferred Christianity to his life gave full proof, not only of his own sincerity, but also of the excellency of the principle by which he was influenced; as his religion put him in possession of greater blessings, and more solid comforts, than any thing the earth could afford.
Though it be tried with fire - That is: Though gold will bear the action of the fire for any given time, even millions of years, were they possible, without losing the smallest particle of weight or value, yet even gold, in process of time, will wear away by continual use; and the earth, and all its works, will be burnt up by that supernatural fire whose action nothing can resist. But on that day the faith of Christ's followers will be found brighter, and more glorious. The earth, and universal nature, shall be dissolved; but he who doeth the will of God shall abide for ever, and his faith shall then be found to the praise of God's grace, the honor of Christ, and the glory or glorification of his own soul throughout eternity. God himself will praise such faith, angels and men will hold it in honor, and Christ will crown it with glory. For some remarks on the nature and properties of gold see at the end of the chapter.

That the trial of your faith, being much more precious than of gold that perisheth, though it be tried with fire, might be found unto praise and honour and glory at the (e) appearing of Jesus Christ:
(e) He speaks of the second coming of Christ.

That the trial of your faith,.... This is the principal end which God has in afflictive providences, to try the faith of his people; so the faith of Abraham, Job, Habakkuk, and others, have been tried:
being much more precious than of gold that perisheth: the grace of faith is much more precious than gold; since that perisheth by using, but faith does not; and since it is so valuable as not to be obtained by it; and since those that have it, though poor in this world, are rich, and heirs of a kingdom: but the trying of it is abundantly more precious than gold; for not only as gold being tried in the fire is purged from its dross, and is proved to be genuine and shines the brighter, so faith, being tried in the fire of afflictions, is purged from unbelief; and the believer is purged from his dross and tin, and his iniquity is purged, and the fruit of all is to take away sin; and he is tried and proved to be a true believer, and his faith shines the more illustriously, as in the above instances; yea, the very trying of it has an influence on other graces, for great usefulness; for the trying of faith works patience, and that, experience, and that, hope:
though it be tried with fire: either though gold be tried with fire, and so is greatly refined, yet it is more precious than that; or though faith be tried with the fire of afflictions, yet it is precious, and more precious than gold: and it is tried for this purpose,
that it might be found unto praise and honour and glory at the appearing of Jesus Christ; who is now in the highest heavens, and out of sight, but will appear a second time without sin unto salvation, and every eye shall see him; and when the believer will be found in him, and his faith be found unto praise by him, he will have praise of him himself; it will be said unto him, "Well done, good and faithful servant"; his faith will be praised for its steadiness and constancy, notwithstanding all persecutions and tribulations; and his good works, the fruits of faith, will be taken notice of by him with commendation; he will be honoured, by being placed on the right hand of Christ, and by being set down with him in his throne, and having a crown of righteousness given to him; and he will be glorified both in soul and body; his body will be made like to Christ's glorious body, and his soul will have a glory revealed in it; and in his whole person he shall appear, when Christ does, with him in glory.

Aim of the "temptations."
trial--testing, proving. That your faith so proved "may be found (aorist; once for all, as the result of its being proved on the judgment-day) unto (eventuating in) praise," &c., namely, the praise to be bestowed by the Judge.
than that of gold--rather, "than gold."
though--"which perisheth, YET is tried with fire." If gold, though perishing (1-Peter 1:18), is yet tried with fire in order to remove dross and test its genuineness, how much more does your faith, which shall never perish, need to pass through a fiery trial to remove whatever is defective, and to test its genuineness and full value?
glory--"Honor" is not so strong as "glory." As "praise" is in words, so "honor" is in deeds: honorary reward.
appearing--Translate as in 1-Peter 1:13, "revelation." At Christ's revelation shall take place also the revelation of the sons of God (Romans 8:19, "manifestation," Greek, "revelation"; 1-John 3:2, Greek, "manifested . . . manifested," for "appear . . . appear").

That the trial of your faith - That is, your faith which is tried. Which is much more precious than gold - For gold, though it bear the fire, yet will perish with the world. May be found - Though it doth not yet appear. Unto praise - From God himself. And honour - From men and angels. And glory - Assigned by the great Judge.