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Canadian $2 bills and zakaah

Fatwaa ID: 2196

Question:
اَسَّلَامُ عَلَيْكُمْ وَرَحْمَةُ اللهِ وَبَرَكَاتُهُ
Question about zakat for old money. Canada has taken 2 dollar bills out of circulation for many years and stopped making them. Old 2 dollar bills are collectable and are worth money based on serial numbers, condition and when they were printed. Some old bills are worth more than others. So for these old bills do we pay the value of the bill or value of them now as collectors items? Example i have a 2 dollar bill worth $150 do i pay zakat on its worth ($150) or zakat on value of the actual bill ($2)

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

We take note of the details of your query. We understand that the Canadian $2 dollar bill is no longer legal tender and cannot be used in transactions. It is not money anymore. It however does have a collector’s value due. Accordingly, the Canadian $2 dollar bill is not zakaatable. It will be treated like any other asset.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

08/24/1445 AH – 03/05/2024 CE | AMG1-3773

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين


https://www.bankofcanada.ca/banknotes/bank-note-redemption-service

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