"Trouble in the Already, Not Yet." - 1 Peter 1:5-7 Commentary

who by God's power are being guarded through faith for a salvation ready to be revealed in the last time. In this you rejoice, though now for a little while, if necessary, you have been grieved by various trials, so that the tested genuineness of your faith—more precious than gold that perishes though it is tested by fire—may be found to result in praise and glory and honor at the revelation of Jesus Christ. (1 Peter 1:5-7 ESV)

      While on Earth we find ourselves in a state of "already, not yet."  I have become increasingly familiar with this reality over the past few months as I am now engaged to be married-  The "already" is that the feelings and level of commitment that accompany marriage are already present within me, and have been promised now to my fiancee, but the "not yet" is that there are still several months until our wedding, when we can live in that reality to it's fullest.  There is a promise that precedes the paradise, and a period of waiting for the fulfillment of the promise.
      This story is also told through the narrative of the Israelites in the wilderness as they eagerly await entrance to the Promised Land.  Later in verse 17, Peter makes mention of "the time of your exile," which is widely understood to be metaphorical in usage-  In the NASB, it is translated, "during the time of your stay on Earth," which lays the metaphor aside for a more literal representation of Peter's meaning.  I believe here Peter is referring to the state of "already, not yet," or the expectant time that we now live in, promised salvation at the coming of Christ.
      So, now that we have been promised a heavenly inheritance through the death and resurrection of Jesus, there are multiple promises here:  not only is there the promise of the inheritance of salvation, but verse five promises God's protection until that time.  Peter goes on to reference the grievous trials these churches are now experiencing, likely due to persecution, and assures them that they have God's protection in the "already, not yet."
      He also reassures them that there is a purpose behind their current struggles.  Untested faith cannot be trusted.  It is easy to believe in the easy.  When trouble comes, that is when you must decide whether to stick  to it, or abandon it.
      Peter here says that tested faith, proven genuine by the choice to press on, is more valuable than gold.  Gold is finite, and will eventually decay even though we place great worth in it, but tested faith is infinite and produces praise, honor, and glory in the life to come.