Question
How should Zakaat be calculated on a rare gold coin? A Mufti says that Zakaat has to be paid on the value of the coin, not on the weight of the gold. This is contrary to what we have always understood.
Answer
The market value of gold is the value on which to calculate Zakaat, not the numismatic value of the coin. The value due to ‗rarity', etc. is fictitious. Treat the rare gold coin just as a normal krugerrand coin. However, if the rare coin is sold, then Zakaat will have to be paid on the money received. Once the money is in hand, the fiction ceases.
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- Source
- themajlis.co.za
- Published in
- The Majlis Vol 27 No 12
- PDF page
- 3
Verbatim verified against the source PDF
Appears under A SATANIST ‘ABDAAL’. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.