"To Timothy, my son: Grace, mercy, and peace from God the Father and Christ Jesus our Lord." 2 Timothy 1:2

Peace is a word with several different meanings in the Old Testament and the New Testament. We will concern ourselves with the New testament meaning as defined in the "Illustrated Dictionary of the Bible" Edited by Herbert Lockyer, Sr.

Quote: "In the New Testament, peace often refers to inner tranquility and poise of the Christian whose trust is in God through Christ.The peace that Jesus spoke of was a combination of hope, trust, and quiet in the mind and soul brought about by reconciliation with God."
"The Apostle Paul later wrote that such peace and spiritual blessedness was a direct result of faith in Christ."

Romans 5:1 is his expression of this:
" Therefore, having been justified by faith, we have peace with God through our Lord Jesus Christ."

Concerning our 'peace through Jesus Christ' we see that-- It comes through Christ's atonement:
" He was wounded for our transgressions, He was bruised for our iniquities; The chastisement for our peace was upon Him And by His stripes we are healed." Isaiah 53:5

It results from reconciliation:
"For it pleased the Father that in Him (Christ) all the fullness should dwell, and by Him to reconcile all things to Himself, by Him, whether things on earth or things in heaven, having made peace through the blood of His cross." Colossians 1:19-20

It is the product of justification as we saw in Romans 5:1 above.

It is obtained by faith:
"You will keep him in perfect peace,
Whose mind is stayed on You,
Because he trusts in You." Isaiah 26:3

As Believers we--
Should live in peace as Paul writes to all Believers as he closes his second letter to the Corinthians:
"Finally, brethren, farewell. Become complete. Be of good comfort, be of one mind, live in peace; and the God of love and peace will be with you."
2 Corinthians 13:11

And Believers are encouraged to pursue peace as he exhorts us in his second letter to Timothy, "Flee also youthful lusts; but pursue righteousness, faith, love, peace with those who call on the Lord out of a pure heart." 2 Timothy 2:22

I would like to close this very very brief study of 2 Timothy1:2 with Romans
5:1-2 from the Amplified Bible. It blessed me and I hope it will bless you too.
"Therefore, since we are justified (acquitted, declared righteous, and given a right standing with God) through faith, let us [grasp the fact that we] have [the peace of reconciliation to hold and to enjoy] peace with God through our Lord Jesus Christ (the Messiah, the Anointed One).
Through Him also we have [our] access (entrance, introduction) by faith into the grace (state of God's favor) in which we [firmly and safely] stand. And let us rejoice and exult in our hope of experiencing and enjoying the glory of God."

Of grace, mercy and peace, as briefly stated earlier: Grace is God's attitude toward the lost; mercy is His response to their need and peace is the result in men's heart.

How awesome is the love of God unto all who will receive the atoning finished work of Jesus Christ our Lord! With grateful hearts we say, thank you, Father, Son and Holy Spirit. Amen