Is Zakaat paid on the weight of silver/gold coins or on the market value?

Answer

If the Zakaat on silver/ gold coins is being paid with coins of the same kind, then the weight will be considered. Example: one has 40 X 1 ounce silver coins. Zakaat of one coin should be paid.

However, if the Zakaat will be paid in another form, e.g. rands, then the value of the coin should be considered.