Which value will be considered for gold and silver jewellery?

Submitted by admin on Tue, 2016-07-26 11:45

Q: The general "market" for an ordinary person wishing to sell his jewellery in our times would be to a jeweler or a gold purchaser. The value thus given by them constitutes the market value. The established practice of both these dealers in evaluating an item to be purchased by them is to consider the gold content present in the jewellery only. They ignore any value that may exist due to the workmanship present in that gold or silver jewellery.

Question: Will this value given by the jeweller or gold purchaser (which is based on gold content only) be the market value considered for zakaat purposes?

A: Refer to http://muftionline.co.za/node/35

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

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Zakaat›Calculating zakaat

Labels:

calculating zakaat

Disclaimer: The answer hereby given is specifically based on the question asked and should be read together with the question asked. Muftionline.co.za bears no responsibility to any party who may or may not act on this answer. Muftionline.co.za being hereby exempted from loss or damage whatsoever caused. Should the question refer to a matter in dispute between two parties, this answer may not be used in the dispute in question by either party unless the question was jointly submitted by both parties with an acknowledgement by both parties that the question was correct and accurate. This answer may not be used as evidence in any court of Law without prior written consent from Muftionline.co.za.

This is the standard version of the site.