Fatwa ID: 09295
Answered by Muftiyah Aisha Qureshi
Question:
When calculating value of gold – we use the *scrap value* correct?
As that is what a person would get if they tried to sell it
In the name of Allah, the Most Gracious, the Most Merciful
Answer:
In Hanafi Fiqh, when figuring out the value of gold for things like Zakat, paying debts, dividing inheritance, or any financial matter, you should use the current market value. This is basically the scrap value, the amount you would realistically get if you sold the gold today.
Gold is measured by its weight and purity, and the market price per gram of that purity is used to work out its value. The price you originally paid, or the shop’s selling price is not used.
So, for calculating Zakat or any monetary transaction, you should use the scrap value of the gold. This shows the real value and makes the calculation fair according to Hanafi Fiqh.
Only Allah ﷻ knows best.
Written by Muftiyah Aisha Qureshi
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
References:
يَقُولُ قَالَ رَسُولُ اللَّهِ صلى الله عليه وسلم ” مَا مِنْ صَاحِبِ ذَهَبٍ وَلاَ فِضَّةٍ لاَ يُؤَدِّي مِنْهَا حَقَّهَا إِلاَّ إِذَا كَانَ يَوْمُ الْقِيَامَةِ صُفِّحَتْ لَهُ صَفَائِحَ مِنْ نَارٍ فَأُحْمِيَ عَلَيْهَا فِي نَارِ جَهَنَّمَ فَيُكْوَى بِهَا جَنْبُهُ وَجَبِينُهُ وَظَهْرُهُ كُلَّمَا بَرَدَتْ أُعِيدَتْ لَهُ فِي يَوْمٍ كَانَ مِقْدَارُهُ خَمْسِينَ أَلْفَ سَنَةٍ حَتَّى يُقْضَى بَيْنَ الْعِبَادِ فَيُرَى سَبِيلُهُ إِمَّا إِلَى الْجَنَّةِ وَإِمَّا إِلَى النَّارِ ”
Sahih Muslim 987a Sunnah.com
وَكَذَا فِي حَقِّ الْوُجُوبِ يُعْتَبَرُ أَنْ يَبْلُغَ وَزْنُهُمَا نِصَابًا، وَلَا يُعْتَبَرُ فِيهِ الْقِيمَةُ بِالْإِجْمَاعِ حَتَّى لَوْ كَانَ لَهُ إبْرِيقُ فِضَّةٍ، وَزْنُهَا مِائَةٌ وَخَمْسُونَ وَقِيمَتُهَا مِائَتَانِ لَا تَجِبُ فِيهَا الزَّكَاةُ كَذَا فِي الْعَيْنِيِّ شَرْحِ الْكَنْزِ.
Fatawa Hindiya vol 1 pg 179