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The question

Is zakat obligatory on the gold coins known as "George" owned by the husband's mother, and what is the method for its disbursement? Is it permissible to disburse it along with the zakat on jewelry, or must it be valued in the market? How is its zakat calculated for past years if the method used was incorrect?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

If gold coins are not used as jewelry but are kept for hoarding, their zakat becomes obligatory if they reach the nisab (minimum threshold) or by combining them with gold jewelry. One-quarter of one-tenth (2.5%) of the gold itself or its value is to be given as zakat upon the completion of a hawl (lunar year).

If they are hoarded for trade, their zakat becomes obligatory based on their value at the completion of each hawl.

The commercial gold must be valued when zakat is disbursed, whereas for hoarded gold, its zakat is directly taken from the gold itself.

If its zakat was previously paid according to the legitimate method, then nothing is due. Otherwise, she must compensate for what she fell short on.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
141110
Imported
Translation status
Source text, unreviewed
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