John Gill's Bible Commentary Ver. 7. In whom we have redemption through his blood , &c.] Redemption supposes captivity and slavery, and is a deliverance out of it; God's elect by nature are in bondage to sin, Satan, and the law; through the grace of Christ, they are redeemed from all iniquity; ransomed out of the hands of him that is stronger than they; and are freed from the law, its bondage, curse, and condemnation, and from every other enemy: and this benefit Christ is the author of; he was called to be the Redeemer of his people from all eternity; and he was sent in the fulness of time, to procure the redemption of them; to which he had a right, being their near kinsman; and for which he was every way fit, being God as well as man; and which he has obtained by his obedience, sufferings, and death: and in whom it resides, as in its proper subject and author; who, by imputation, is made redemption to all the chosen ones; for not angels, but men, share in this redemption; and not all men, but elect men; such as are chosen in Christ, predestinated to the adoption of children by him, and who are accepted in the beloved: and this comes to them through the blood of Christ, which was freely shed on the cross to procure it; and was a sufficient ransom, or redemption price; it being not only the same blood with those who are redeemed, but the blood of an innocent person; and not of a mere man, but of one who is truly and properly God, as well as man; see more of this (See Gill on Colossians 1:14). A branch of this redemption follows, or a blessing that comes by it, and along with it, the forgiveness of sins ; of all sins, original and actual, past, present, and to come; and this is through the blood of Christ, which was shed for the same: and yet is according to the riches of his grace ; for God of his rich grace found the ransom price, and gave his Son, as well as he gave himself, his life, a ransom for many; and how much soever it cost Christ to procure redemption and pardon, they are free to his people; who are redeemed without money and price of theirs, and whose sins are forgiven freely for Christ's sake.
Matthew Henry Commentary
Verses 3-8 - Spiritual and heavenly blessings are the best blessings; with which we cannot be miserable, and without which we cannot but be so. This wa from the choice of them in Christ, before the foundation of the world that they should be made holy by separation from sin, being set apar to God, and sanctified by the Holy Spirit, in consequence of their election in Christ. All who are chosen to happiness as the end, ar chosen to holiness as the means. In love they were predestinated, or fore-ordained, to be adopted as children of God by faith in Chris Jesus, and to be openly admitted to the privileges of that hig relation to himself. The reconciled and adopted believer, the pardone sinner, gives all the praise of his salvation to his gracious Father His love appointed this method of redemption, spared not his own Son and brought believers to hear and embrace this salvation. It was ric grace to provide such a surety as his own Son, and freely to delive him up. This method of grace gives no encouragement to evil, but show sin in all its hatefulness, and how it deserves vengeance. The believer's actions, as well as his words, declare the praises of Divin mercy.
Greek Textus Receptus
εν 1722 PREP ω 3739 R-DSM εχομεν 2192 5719 V-PAI-1P την 3588 T-ASF απολυτρωσιν 629 N-ASF δια 1223 PREP του 3588 T-GSN αιματος 129 N-GSN αυτου 846 P-GSM την 3588 T-ASF αφεσιν 859 N-ASF των 3588 T-GPN παραπτωματων 3900 N-GPN κατα 2596 PREP τον 3588 T-ASM πλουτον 4149 N-ASM της 3588 T-GSF χαριτος 5485 N-GSF αυτου 846 P-GSM
Vincent's NT Word Studies
7. We have. Or are having. The freely bestowed (ver. 6) is thus illustrated by experience. The divine purpose is being accomplished in the lives of believers.Redemption (thn apolutrwsin). See on Rom. iii. 24. Note the article: our redemption.
Through His blood. Further defining and explaining in whom.
Forgiveness (afesin). See on Luke iii. 3; Jas. v. 15; Rom. iii. 25. Forgiveness specifies the peculiar quality of redemption.
Sins (paraptwmatwn). Rev., better, trespasses. See on Matt. vi. 14. Riches. See on glory, ver. 6, and Rom. ii. 4.
Robertson's NT Word Studies
1:7 {In whom} (en hwi). Just like #Col 1:14 with paraptwmatwn (trespasses) in place of hamartiwn (sins) and with the addition of dia tou haimatos autou (through his blood) as in #Col 1:20. Clearly Paul makes the blood of Christ the cost of redemption, the ransom money (lutron, #Mt 20:28; Mr 10:45; antilutron, #1Ti 2:6). See #Col 1:9.