The Parables. No. 6. The Pearl of Great Price., by Charles H. Welch in
The Berean Expositor, circa 1913.

It will be remembered that in our exposition of the parable of the Hid
Treasure we drew attention to the difference which is made in Scripture
between "all Israel" and "the remnant."  It appears also in the above
parable. Both refer to the people of God's choice -- Israel, both are
referred to under the figure either of a treasure or a pearl of great
price.  The very Jews who were "enemies because of the gospel" were
nevertheless "beloved because of the fathers," but doubly precious in
the sight of God has ever been that believing remnant from Abraham
onwards.  These are an election from among the elect, and these are
dealt with in the parable of the Pearl:-

"Again, the kingdom of the heavens is like unto a merchant seeking
beautiful pearls, and, finding one very precious pearl, departing, he
at once sold all things whatsoever he had and bought it" (Matt. xiii.
45, 46).

Let us briefly consider the words used in this parable.

Merchant. -- The word is epmoros in the original, giving us our
emporium, and occurs five times in the N.T., once in the parable, and
four times of the merchants connected with Babylon (Rev. xviii.).

Pearls. -- These are mentioned in the N.T. nine times.  Two of these
occurrences are in the parable, and five are in the Revelation.  The
harlot is seen decked with precious stones and pearls, but after her
destruction the new Jerusalem, the holy city, is seen with its
foundation of precious stones, and every gate a pearl.  Merchants and
pearls are connected with the two cities, and the two systems, the one
being the devil's parody of the other.

The N.T. word for a pearl is margarites.  Another word, not found in
the N.T., but closely resembling the Hebrew word translated "rubies,"
is the word pinna. The R.V. margin of Job xxviii. 18 gives "pearls" as
an alternative reading. Bochart is very strong in his belief that the
Hebrew word peninim (rubies) should be translated pearls.  The price of
wisdom (Job xxviii. 18; Prov. iii. 15) and the worth of a virtuous
woman (Prov. xxxi. 10) are placed above the value of peninim or pearls.

Coming now to the meaning of the parable.  Right down the ages since
the time of Abraham there has been a faithful remnant.  These will form
one company at the end, and are spoken of as "holy brethren, partakers
of the heavenly calling," "who died in faith, not having received the
promise."  The reader should turn to the following passages before
going further, to learn more concerning this remnant according to the
election of grace.  Isa. i. 9; vii. 3 (Shear-jashub, the name
translated for us in x. 21 by the words "the remnant shall return");
Isa. xi. 11, 16; Ezek. ix. 4-6; xiv. 22; Joel ii. 32 (compare the
remnant on the day of Pentecost); Micah ii. 12; Rom. ix. 27; xi. 5.

The overcomers of the Apocalypse, the 144,000 sealed of the tribes of
Israel, the various companies mentioned in Rev. xii. 17; xiv. 1-5; xv.
1-3 and xx. 4 all seem to be part of this great company denominated by
our Lord "The Pearl of Great Price."  Pearls are compared with holiness
in Matt. vii. 6; the partakers of the heavenly calling are called "holy
brethren" (Heb. iii. 1), and "saints of the Most High" (Dan. vii. 22). 
Pearls are compared with wisdom in the O.T., and Dan. xii. 3 tells us
that "they that be wise shall shine as the brightness of the firmament,
and they that turn many to righteousness, as the stars unto the age and
beyond."  These are the seed of Abraham likened to the stars of heaven,
the nation itself being likened to the sand of the sea shore.  These
wise ones "understand" and "instruct many" (Dan. xi. 33); they are
subjected to tribulation (Dan xi. 35) before they enter their glory.
Wherever we see this elect remnant we find tribulation and suffering. 
The words of the epistles of Peter and James, so full of admonition and
comfort to those of the dispersion who believed and who were passing
through the "fiery trial," were addressed to this remnant.

When we read in the book of the Revelation of "The wife" and "The
bride," we have the two companies again who are in view in these
parables as the Treasure and the Pearl.  Israel's relationship to God
is that of a wife who, being unfaithful, has been put away, but the
return of Israel is to be like the taking back of the penitent wife,
nay, so great is God's grace and love that He says it will be "as a
young man marrieth a virgin," even though in reality it will be the
taking back again of an unfaithful wife (see Isa. lxii. 4, 5 and Hos.
ii. 19, 20, &c.).  This relationship, which includes "all Israel," is
brought before us in Rev. xix. as the marriage of the Lamb, whose "wife
hath made herself ready."

After the thousand years' reign, and in connection with the new heaven
and the new earth, we read, "And I, John, saw the holy city, new
Jerusalem, coming down from God out of heaven, prepared as a bride
adorned for her husband" (Rev. xxi. 2).  In verses 9 and 10 we have
this fact repeated.  The inhabitants of this city are the partakers of
the "heavenly calling," who, like Abraham, desired a better country,
that is an heavenly, and for them God hath prepared a city.  It was
this heavenly calling (which must be distinguished from the
super-celestial calling of the dispensation of the mystery), so plainly
understood and believed by Abraham, that enabled him to be a stranger
and a pilgrim on the earth, a sojourner in the land of promise as in a
strange country, content with tents and no settled habitation, because
he looked for a city which hath the foundations, whose builder and
maker is God.

Such as are children of faithful Abraham, not only according to the
flesh but according to the spirit, such constitute the bride and the
pearl, an elect remnant out from an elect nation.  Israel viewed as a
whole is likened to a treasure and a wife.  The remnant (which will
include believing Gentiles during the "Acts" period) are viewed as a
precious pearl and a bride.  We may set this out more clearly as
follows:-

The Elect Nation as distinct from the Nation.

A treasure.  A wife.  Earthly calling, and city.  Seed like sand for
multitude.

The Elect Remnant as distinct from the Nation.

A pearl.  A bride.  Heavenly calling, and city.  Seed like stars for
multitude.

Once again we see how fully the Lord was meeting the disciples' need,
by showing them the way in which God's purpose concerning Israel was to
run its course, and how the very trials and hindrances would be made to
contribute to the glorious end in view.