There are many that teach that believers today are also priests. Their belief is based on the verse above. For it does say that ye are a “chosen generation, a royal priesthood.” However, to whom is Peter writing to? In verse 1:1, he is writing to the “strangers scattered throughout.” The “strangers scattered throughout” would also be those who were scattered after the persecution broke out after the stoning of Stephen (Acts 11:19). This is also said in Acts 8:1. So, Peter is talking to Jews. The believing remnant of Israel, or scattered Jews, were those to whom Peter was addressing in his epistle.
Also, back under the law, Israel was called to be a holy nation and a kingdom of priests.
Exodus 19:6 And ye shall be unto me a kingdom of
priests, and an holy nation. These are the words which thou shalt speak
unto the children of Israel.
One of the roles of a priest was to mediate. For example,
only the high priest could enter the Holy of holies and present the sacrifice
unto God. They were acting on behalf of the rest of the nation. They were there
to mediate between God and man.
However, today there is only one mediator. That one mediator
is the Lord Jesus Christ.
1 Timothy 2:5 For there is one God, and one
mediator between God and men, the man Christ Jesus;
Jesus Christ, today, is that one mediator between God and
man. God was in Christ reconciling the world unto himself, not imputing their
trespasses against them (2 Cor. 5:19). He did that while “in Christ.” We have
“peace with God through our Lord Jesus Christ” (Rom. 5:1). Our job now is to be
Christ’s ambassadors to take the word of reconciliation to the world. Christ has already done the work of
salvation. He has provided salvation to everyone who believes the “gospel of
Christ which is the power of God unto salvation” (Rom. 1:16). Our job is to
proclaim the gospel to lost sinners, but it is Christ through the power of the
Holy Spirit who will save them if they believe on Him (Acts 16:31). The only
mediating that we may do is between man and another man. The role of the priest
or Christ’s role as the one mediator is to mediate between God and man. So, the
role of mediator is given to Jesus Christ. Israel’s role is to be a kingdom of
priests. Our role, on the other hand, is to be Christ’s ambassadors (2 Cor. 5:20).