Which value is considered in the zakat on jewellery?

Question

Silver and gold jewellery does not sell at the full rate, since it is old and sells at half price. So will the zakat that is paid be by the new reckoning or by the old one?

Answer

In silver and gold jewellery it is not the value that is considered but the weight. The nisab of silver is fifty-two and a half tola (a unit of weight, ≈ 11.66 g), and the nisab of gold is seven and a half tola; the ruling is the same for new and old alike. One fortieth is binding (lazim) as zakat.

Source: Fatawa Mahmudiyya

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