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Calculating one’s zakaat when one has cash, gold and gold coins

Answered according to Hanafi Fiqh by Muftionline.co.za
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Q: I have tried calculating my zakaat but unfortunately I get quite confused when gold is added. Will really appreciate some guidance on this.

1. I recently married and received pieces of jewellery which is less than 85 grams in total. Am I liable to pay zakaat on this?

2. I currently have 2 (1 oz) Kruger coins as well as 2 Mandela coins. When I researched the grams its 28.35 grams = 1 Ounce. The mandela coins have 5.1 grams of Gold and 2.68 grams of silver. Am I liable to pay zakaat on this?

I also have cash but shukr at least this I know how to calculate.

Bismillaah

A: Generally the Mandela coins and Kruger coins are purchased with the intention of resale. Hence if you had purchased the coins with this intention, then you should add the market value of the Mandela coins, Kruger coins and gold jewellery that you have in your possession to the cash that you have and thereafter discharge 2.5% of the total value.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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