Explaining that zakah is obligatory in several types of wealth: First: gold and silver and what serves as their substitute, namely currency.
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The Shaykh : ...currencies, merchandise for trade, livestock, and what comes out of the earth.
Currencies are gold and silver money or paper money that serves as their substitute. The obligatory amount is one-quarter of a tenth if it reaches the nisab. However, zakah is obligatory in gold and silver in their physical form, even if they are not currency. For example, if a person has gold bars, meaning pieces of gold or silver, he must pay zakah on them even if they are not currencies.
Currencies are gold and silver money or paper money that serves as their substitute. The obligatory amount is one-quarter of a tenth if it reaches the nisab. However, zakah is obligatory in gold and silver in their physical form, even if they are not currency. For example, if a person has gold bars, meaning pieces of gold or silver, he must pay zakah on them even if they are not currencies.