22/16. Chapter:
Sahih Muslim 1590a — Gold and Silver Spot Exchange
The Prohibition of selling silver for gold to be paid at a later date
Hadith About Gold and Silver Spot Exchange
Sahih Muslim : 1590a
Sahih MuslimHadith Number 1590a
حَدَّثَنَا أَبُو الرَّبِيعِ الْعَتَكِيُّ، حَدَّثَنَا عَبَّادُ بْنُ الْعَوَّامِ، أَخْبَرَنَا يَحْيَى بْنُ أَبِي إِسْحَاقَ، حَدَّثَنَا عَبْدُ الرَّحْمَنِ بْنُ أَبِي بَكْرَةَ، عَنْ أَبِيهِ، قَالَ نَهَى رَسُولُ اللَّهِ صلى الله عليه وسلم عَنِ الْفِضَّةِ بِالْفِضَّةِ وَالذَّهَبِ بِالذَّهَبِ إِلاَّ سَوَاءً بِسَوَاءٍ وَأَمَرَنَا أَنْ نَشْتَرِيَ الْفِضَّةَ بِالذَّهَبِ كَيْفَ شِئْنَا وَنَشْتَرِيَ الذَّهَبَ بِالْفِضَّةِ كَيْفَ شِئْنَا . قَالَ فَسَأَلَهُ رَجُلٌ فَقَالَ يَدًا بِيَدٍ فَقَالَ هَكَذَا سَمِعْتُ .
Abd al-Rabman b. Abia Bakra Narrated from:
Allah's Messenger (ﷺ) forbade the sale of gold for gold, and silver for silver except equal for equal, and commanded us to buy silver for gold as we desired and buy gold for silver as we desired. A person asked him (about the nature of payment), whereupon he said: It is to be made on the spot. This is what I heard (from Allah's Messenger (may peace be upon him).
Reference : Sahih Muslim 1590aIn-book reference : Book 22, Hadith 112USC-MSA web (English) reference : Book 10, Hadith 3861
Summary of Sahih Muslim Hadith 1590a
This Hadith explains two points about gold and silver exchange. First, gold for gold and silver for silver are forbidden unless the exchange is equal for equal. Second, the narrator says they were commanded to buy silver for gold as they wished and buy gold for silver as they wished. When someone asked about the nature of payment, the answer was that it should be made on the spot. This is a strong Hadith for searches about gold exchange, silver exchange, hand to hand payment, and riba. The text separates same-type exchange from gold-for-silver exchange, so the explanation should not mix them.
What we learn from this hadith
- Gold for gold is allowed only as equal for equal in this text.
- Silver for silver is also allowed only as equal for equal.
- Gold and silver may be exchanged as desired when payment is on the spot.
- The narrator confirms this is what he heard.
