Zakat on Gold and Silver

Gold A metallic element, constituting the most precious metal used as a common commercial medium of exchange. It has a characteristic yellow color, is one of the heaviest substances known (specific gravity 19.32), is soft, and very malleable and ductile. It is quite unalterable by heat,moisture,and most corrosive agents, and therefore well suited for its use in coin and jewelry. This metal is zakatable as it is a metal used as an exchange value of all things. As for other jewelery of gold and silver, which is diamond,pearl, silk, copper, etc. are not obligatory zakat on it. Nisab zakat gold used = 200grams Gold zakat Nisab unused = 85grams Nisab on gold coins = 20 dinars Silver A soft white metallic element, sonorous, ductile, very malleable, and capable of a high degree of polish. It is found native, and also combined with sulphur, arsenic, antimony, chlorine, etc., in the minerals argentite, proustite, pyrargyrite, ceragyrite, etc. Silver is one of the "noble" metals, so-called, not being easily oxidized, and is used for coin, jewelry, plate, and a great variety of articles. Nisab zakat on silver = 600grams Nisab on dirham = 200 dirhams EVIDENCE : Allah states in Surah at-Taubah verses 34-35 above translated as "O ye who believe! there are indeed many among the priests and anchorites, who in Falsehood devour the substance of men and hinder (them) from the way of Allah. And there are those who bury gold and silver and spend it not in the way of Allah. announce unto them a most grievous penalty- 35:On the Day when heat will be produced out of that (wealth) in the fire of Hell, and with it will be branded their foreheads, their flanks, and their backs, their flanks, and their backs.- "This is the (treasure) which ye buried for yourselves: taste ye, then, the (treasures) ye buried!" The prophet (pbuh) said: "Any owner of gold and silver who does not deliver from them their right, on the Day of Quiyamah (Day of Judgment), (the gold and silver) will be shaped as foils of fire. Then it will be heated in the fire of Hell; (and) then with it he will be ironed on his side, his forehead, and his back" (narrated by Muslim). It is agreed between Muslims in all the centuries the obligatory nature of paying Zakat for gold and silver, and from those the other kinds of currency. Zakat is obligatory when a certain amount of money, called the nisab is reached or exceeded. Zakat is not obligatory if the amount owned is less than this nisab. The nisab (or minimum amount) of gold and golden currency is 20 mithqal, this is approximately 85 grams of gold. One mithqal is approximately 4.25 grams.