Ruling on selling old currency for more than its value
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What is the ruling on some people who put old currency up for auction, and the auction proceeds go to supporting the Ikhwan in Chechnya?The Shaykh: I mean: he has old currency and wants to sell it for more than its value?The questioner: Yes.
The Shaykh: There is no harm in it.Because the old currency has become non-currency. The questioner: But it is used.
The Shaykh: If, for example, he has the first red riyal denomination, or the five or ten riyal denominations that are no longer in circulation, and he wants to sell the ten riyal note for one hundred, there is no harm; because it has become a commodity with value. Now, previous currencies are bought for more than their value, but they have become a commodity, not currency, so there is no harm.
The questioner: It is used.
The Shaykh: It is never used; the government does not accept its use at all.
The questioner: Dollar.
The Shaykh: Has the dollar changed from before?The questioner: Is it used now, O Shaykh?The Shaykh: The dollar, may Allah reward you, is currency that has not been abolished; it is still in circulation, and its value rises and falls according to the strength of the other country; because whenever a country weakens, its currency weakens. But you mentioned the word Chechnya; I do not know what the connection is between Chechnya and this?The questioner: The auction money is for Chechnya.
The Shaykh: The profits are for Chechnya?The questioner: Yes.
The Shaykh: Does he have a partner or not?The questioner: No.
The Shaykh: Is he independent with his money?The questioner: Yes.
The Shaykh: There is no harm if he gives all his money to Chechnya; may Allah reward him with good.
The Shaykh: There is no harm in it.Because the old currency has become non-currency. The questioner: But it is used.
The Shaykh: If, for example, he has the first red riyal denomination, or the five or ten riyal denominations that are no longer in circulation, and he wants to sell the ten riyal note for one hundred, there is no harm; because it has become a commodity with value. Now, previous currencies are bought for more than their value, but they have become a commodity, not currency, so there is no harm.
The questioner: It is used.
The Shaykh: It is never used; the government does not accept its use at all.
The questioner: Dollar.
The Shaykh: Has the dollar changed from before?The questioner: Is it used now, O Shaykh?The Shaykh: The dollar, may Allah reward you, is currency that has not been abolished; it is still in circulation, and its value rises and falls according to the strength of the other country; because whenever a country weakens, its currency weakens. But you mentioned the word Chechnya; I do not know what the connection is between Chechnya and this?The questioner: The auction money is for Chechnya.
The Shaykh: The profits are for Chechnya?The questioner: Yes.
The Shaykh: Does he have a partner or not?The questioner: No.
The Shaykh: Is he independent with his money?The questioner: Yes.
The Shaykh: There is no harm if he gives all his money to Chechnya; may Allah reward him with good.