This was the day the Light Blues stepped into unchartered territory, playing the very first league match outwith Scottish football’s top flight of their 140-year history.
They were expected to win and really should have done given the number of chances they created but it seems there is some fine tuning to be done yet.
Their hosts in Buchan rolled out the welcome mat and as almost 4,500 fans crammed into Balmoor Stadium, there was a real cup tie feel to this fixture.
For more than an hour it all went according to plan too, thanks to Barrie McKay’s first competitive goal for the club.
But Rory McAllister’s strike restored parity before Scott McLaughlin put his side on the brink of a sensational victory.
In the end, Andy Little made sure that wouldn’t be the case with a late tap in but it won’t have saved him and his team-mates from a stern talking to at full-time from Ally McCoist.
The journey to Peterhead was something to speak of itself, with Union Flags lining the route sporadically along the way.
Five of them were planted in the middle of the first roundabout in the town too, a replacement for a sarcastic ‘Welcome to Division Three’ banner put there yesterday by Aberdeen fans.
The fact is Gers followers were looking forward to getting life in new surroundings underway and they turned up in great numbers expecting a victory.
The trouble is their side was possibly guilty of the same thing and instead it came so perilously close to being embarrassed on day one as an SFL team.
Manager McCoist stuck with the same team which beat East Fife 4-0 in the League Cup four days ago and that meant eight full internationals started.
For all that, the first quarter hour brought more notable activity off the pitch than on it as the visiting fans made themselves heard and created a carnival atmosphere.
Gers did create openings though, with McKay proving to be a useful outlet down the right in particular.
Lee McCulloch had one shot stopped and another from Dean Shiels was blocked before a chance for Little was deflected behind.
Peterhead had opportunities too, with the best of theirs falling to McAllister but Neil Alexander got down well to gather his drive.
Although Rangers’ chances were more clear cut, the Blue Toon were getting forward well and forced a number of corners without making any of them count.
McKay is a player who will undoubtedly excite Ibrox fans this season and he stands out as one of the most promising youngsters to come out of Murray Park who will flourish in time.
He still has to fill out a bit and won’t get muscled off the ball so easily as he continues to develop but probably does a little too often for his manager’s liking at present.
Nevertheless, the 17-year-old is blessed with clear talent and it was fitting at the start of a bright new dawn at the club it was he, one of the stars of the future, who gave Gers a lead.
His low finish under Paul Jarvie after Lewis Macleod’s diagonal pass and McCulloch’s knock down was composed, crisp and deserved for the way the away side had begun.
With 26 minutes gone, McCoist’s men were ahead – but Peterhead clearly never read the script and very nearly drew level moments later.
How McAllister missed with just Alexander to beat with still trouble him now but his pulled shot across goal and wide of the target wasn't typical of his more prolific nature.
Little very nearly made him pay but drove inches over then was more wayward with another attempt as the interval approached and it remained 1-0 at the midway point.
Rangers continued to dominate after the restart but it took a phenomenal save from Alexander to keep them ahead.
McAllister looked to have atoned for his first half indiscretions with a superb curled effort but the keeper stretched out to tip on to the bar and over with a quite wonderful stop.
A second goal was required to give the Light Blues a bit of comfort but it never came and instead Peterhead drew level on 64 minutes.
This time McAllister did everything right as he stepped back inside his marker before slotting into the far corner from 12 yards.
McKay had fallen out of the game so McCoist responded to the equaliser immediately by replacing the teenager with Fran Sandaza.
Carlos Bocanegra steered a header past the post as the Ibrox side tried to lift the tempo then Sandaza was denied by Jarvie.
A lack of match sharpness perhaps explained why the striker shot straight at the keeper again moments later while Shiels was denied as Gers piled on the pressure.
Jarvie was coming into his own and he palmed away McCulloch’s piledriver as it seemed the Glasgow team was getting close to a breakthrough.
Instead Peterhead edged ahead with eight minutes left as McLaughlin hammered home after Alexander palmed a corner away.
But Little spared his side’s blushes as he poked in after Kevin Kyle hit the bar to ensure Rangers at least took a point from the contest.
PETERHEAD: Jarvie, Sharp, Ross, McDonald, Noble; McLaughlin, Cowie (Deasley 87), Strachan, Redman; Winters (Bavidge 59), McAllister (Maguire 83).
SCORERS: McAllister 64, McLaughlin 82.
RANGERS: Alexander; Broadfoot, Goian, Bocanegra; Little, Black, Macleod (Kyle 83), Wallace; McKay (Sandaza 64), McCulloch, Shiels.
SCORERS: McKay 26, Little 90.
REFEREE: Stephen Finnie.