one-quarter of a dinar or more.” (1) The Prophet ﷺ also ordered the cutting of the hand for the theft of a shield valued at three dirhams. (2) This shows that, at that time, one dinar was worth twelve dirhams in silver.

Likewise, with regard to blood money, one thousand dinars equaled twelve thousand dirhams. But at the present time—and even before the present time—this is not workable, because gold and silver are not stable in value: the value of gold may rise, and the value of silver may rise. Accordingly, it is not valid for one partner to contribute gold and the other silver, except according to the view that permits one partner to contribute trade goods whose value is assessed when the partnership is formed.

His statement, “even if they are lightly adulterated,” indicates a point of scholarly disagreement. In earlier times, dinars and dirhams were subject to tampering: some people would adulterate them by mixing another metal with the gold or with the silver.

The scholars say: if this admixture is slight and is intended to harden the gold or silver, then it does no harm, for it is like rennet added to milk in order to curdle it. This serves the interests of the two monetary metals and causes no harm. But if the adulteration is substantial and intended to facilitate circulation, then it cannot be regarded as currency.