Ruling on selling metal coins for paper currency with an increase
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What is the ruling on selling metal coins for paper currency with an increase,Meaning: where the seller takes the increase, such as selling nine for ten?
The ruling on selling metal coins for paper currency with an increase or decrease is permissible, provided that the exchange takes place in the meeting of the contract, due to the generality of the saying of the Messenger of Allah (peace and blessings be upon him): (If these types differ, sell however you wish, as long as it is hand to hand) .
The jurists (may Allah have mercy on them) stated explicitly that the small coins (fulus) people deal in, being metal and not gold or silver, do not involve riba: Some of them stated categorically and said: They do not involve riba at all.
-And some of them said: They involve riba al-nasi'ah (usury of deferment).
This is the more correct view; because they are prices and values for things, they resemble silver and gold currency in one aspect, so they are given some of its rulings from another aspect.
The closest opinion in this issue is: That riba al-fadl (usury of excess), which is the increase or decrease, is permissible in them, but riba al-nasi'ah (usury of deferment), which is delaying the possession, is not permissible.
The ruling on selling metal coins for paper currency with an increase or decrease is permissible, provided that the exchange takes place in the meeting of the contract, due to the generality of the saying of the Messenger of Allah (peace and blessings be upon him): (If these types differ, sell however you wish, as long as it is hand to hand) .
The jurists (may Allah have mercy on them) stated explicitly that the small coins (fulus) people deal in, being metal and not gold or silver, do not involve riba: Some of them stated categorically and said: They do not involve riba at all.
-And some of them said: They involve riba al-nasi'ah (usury of deferment).
This is the more correct view; because they are prices and values for things, they resemble silver and gold currency in one aspect, so they are given some of its rulings from another aspect.
The closest opinion in this issue is: That riba al-fadl (usury of excess), which is the increase or decrease, is permissible in them, but riba al-nasi'ah (usury of deferment), which is delaying the possession, is not permissible.