The Ruling on Zakah of Used Gold and Silver

Question:
Is there zakah on used gold and silver? And how is it paid? Is it weighed, or is it paid based on its previous value?

Answer:
Gold and silver are subject to zakah according to the correct view, even if they are used, and even if they are worn. There is disagreement among the scholars, but the correct view is that they are subject to zakah if they reach the nisab. The nisab is twenty mithqals of gold and one hundred and forty mithqals of silver. The equivalent amount in Saudi currency is eleven and a half pounds; this is the amount in the known Saudi pound. And from silver, it is fifty-six riyals, and the equivalent in paper money.
So the point is: this is what is obligatory upon him. He looks at the weight, and if he knows that the weight of this item, such as a bracelet or others, reaches eleven and a half pounds, twenty mithqals, he looks at its value in the market... [to see if he has] from paper money what is sufficient.