knowing that ye were redeemed, not with corruptible things, with silver or gold, from your vain manner of life handed down from your fathers;

Being conscious that you have been made free from that foolish way of life which was your heritage from your fathers, not through a payment of things like silver or gold which come to destruction,

εξευροντες οτι δεν ελυτρωθητε απο της ματαιας πατροπαραδοτου διαγωγης υμων δια φθαρτων, αργυριου η χρυσιου,

Forasmuch as ye know that ye were not redeemed with corruptible things, as silver and gold, from your vain conversation received by tradition from your fathers;