What is the Hukm (Ruling) on Coin Collecting?

Fatwa ID: 03636

Answered by: Maulana Tahsin Alam

 

Question

What’s the hukm on coin collecting? Can they be sold at higher value?

 

بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم

In the name of Allah, the Most Gracious, the Most Merciful

 

Answer:

“Coin collecting, also called numismatics, is the systematic accumulation and study of coins, tokens, paper money, and objects of similar form and purpose. The collecting of coins is one of the oldest hobbies in the world. With the exception of China and Japan, the introduction of paper money is, for the most part, a recent development (meaning since the 18th century). Hence, while paper money and other types of notes are collectable, the history of that form of collecting is distinct from coins and largely a modern phenomenon.”[1]

As collector coins are considered to be items that are rare, unique and antique. They will not be considered to be from the regular currency (coins, notes) that are commonly used today.

Therefore, they may be sold at a higher price owing to the fact that they are now a rare, collector’s item, and not a regular coin in circulation today. [2]

 

 

Only Allah knows best

Written by Maulana Tahsin Alam

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

 

 


[1] https://www.britannica.com/topic/coin-collecting

 

[2] القاعدة: العادة محكمة

القاعدة: استعمال الناس حجة يجب العمل به

القاعدة: الحقيقة تترك بدلالة العادة

 

Comments are closed.