What is the ruling on selling metal coins for paper money with an increase?
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The questioner : In the name of Allah, the Most Gracious, the Most Merciful.
Peace be upon you, and Allah’s mercy and blessings.
The Shaykh : And upon you be peace and Allah's mercy and blessings.
The questioner : O Shaykh, what is the ruling on selling metal coins for paper money with an increase, meaning the seller takes an extra amount, as if he sells nine for ten?
The Shaykh : Yes.
The questioner : So what is the ruling if it is permissible?
The Shaykh : The ruling on selling metal coins for paper currency with an increase or decrease is that there is no harm in it, provided that the exchange takes place in the meeting of the contract.
This is due to the generality of the saying of the Messenger of Allah (peace and blessings be upon him):Sahih Muslim 1587c The jurists (may Allah have mercy on them) have stated that the small coins (fulus) that people deal in, being metal and not gold or silver, do not involve riba. Some of them stated categorically that there is no riba in them at all, while others said that there is riba al-nasi'ah (usury of deferment) in them, and this is the more correct view.
Because, since they are prices and values for things, they resemble silver and gold currency in one aspect, and thus they are given some of its rulings from another aspect.
So the closest opinion in this issue is that riba al-fadl (usury of excess), which is the increase and decrease, is permissible in them, but riba al-nasi'ah (usury of deferment), which is delaying the possession, is not permissible. Yes, do not go beyond this.
Peace be upon you, and Allah’s mercy and blessings.
The Shaykh : And upon you be peace and Allah's mercy and blessings.
The questioner : O Shaykh, what is the ruling on selling metal coins for paper money with an increase, meaning the seller takes an extra amount, as if he sells nine for ten?
The Shaykh : Yes.
The questioner : So what is the ruling if it is permissible?
The Shaykh : The ruling on selling metal coins for paper currency with an increase or decrease is that there is no harm in it, provided that the exchange takes place in the meeting of the contract.
This is due to the generality of the saying of the Messenger of Allah (peace and blessings be upon him):
If these classes differ, then sell as you wish if payment is made hand to hand.
فإذا اختلفت هذه الأجناس فبيعوا كيف شئتم إذا كان يدا بيدBecause, since they are prices and values for things, they resemble silver and gold currency in one aspect, and thus they are given some of its rulings from another aspect.
So the closest opinion in this issue is that riba al-fadl (usury of excess), which is the increase and decrease, is permissible in them, but riba al-nasi'ah (usury of deferment), which is delaying the possession, is not permissible. Yes, do not go beyond this.