and hand to hand.

The Prophet ﷺ also said: “Gold for gold, whether in bullion or in coin, and silver for silver, whether in bullion or in coin, must be equal for equal, hand to hand; whoever adds anything has committed usury.”

He ﷺ likewise said: “A dinar for a dinar and a dirham for a dirham—there is to be no excess between them.”

And he ﷺ said: “Do not sell gold for gold except equal for equal, and do not give one piece preference over another; do not sell silver for silver except equal for equal, and do not give one piece preference over another; and do not trade any of them that is deferred for one that is immediate.”

Gold and silver are two separate categories, two distinct kinds; each of them constitutes an independent genus. A single kind may not be exchanged for the same kind except equal for equal, hand to hand, whether the item is something eaten or drunk as a staple or a relish, or whether it is gold or silver.

The discussion of edible and drinkable commodities—whether staple foods, fruit, or relish—and all their rulings will, God willing, appear in a separate chapter after this one.

The unanimously accepted Sunnah is that nothing of gold—coin, bullion, jewelry, dust, of high quality or low—may be sold for gold except equal for equal, hand to hand. The same applies to silver—its coins, jewelry, bullion, black ore or white, good or bad alike: none of it may be exchanged for itself except equal for equal, hand to hand. Whoever increases or decreases in any of that, or introduces deferment, has consumed usury; and if taking possession of any part of the exchange is delayed, the entire sale is invalid.

It is, however, permissible to sell gold for silver in whatever manner the two parties wish, provided it is hand to hand, because they are two different kinds. Usury does not occur between two different kinds, as I have already explained to you, except in the case of deferment and nothing else, whereas within a single kind usury can arise from two angles.