I am not familiar with the sermons of J. C. Philpot, but did look at one, "A Peculiar People" which claimed the KJV translation of
1 Peter 2:9 was accurate. However, if you look at other translations the word refers to people belonging to God, who could be run of the mill, or odd balls. God does not choose us based on the world's perception of us, but upon our faith as credited (or not) by God.
The Greek word "peripoiēsis" refers to obtaining or possessing someone or something. The word appears in the NT 5 times, and KJV translates it as "purchased possession, obtain, obtaining, saving and peculiar." YLT goes with "acquired possession, acquired, preserving and acquiring. Thus the entire sermon, "A Peculiar People" is bogus and based on a mistranslation.
AMP
But you are a chosen race, a royal priesthood, a consecrated nation,
a [special] people for God’s own possession, so that you may proclaim the excellencies [the wonderful deeds and virtues and perfections] of Him who called you out of darkness into His marvelous light.
CSB
But you are a chosen race, a royal priesthood, a holy nation,
a people for his possession, so that you may proclaim the praises of the one who called you out of darkness into his marvelous light.
LEB
But you
are a chosen race, a royal priesthood, a holy nation,
a people for God’s possession, so that you may proclaim the virtues of the one who called you out of darkness into his marvelous light,
NET
But you are a chosen race, a royal priesthood, a holy nation,
a people of his own, so that you may proclaim the virtues of the one who called you out of darkness into his marvelous light.
NIV
But you are a chosen people, a royal priesthood, a holy nation,
God’s special possession, that you may declare the praises of him who called you out of darkness into his wonderful light.
WEB
But you are a chosen race, a royal priesthood, a holy nation,
a people for God’s own possession, that you may proclaim the excellence of him who called you out of darkness into his marvelous light.