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How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

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  • How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

    Any mathematician in the house ?

    Does anybody know how much 1 Gold Dinar was worth in the time of the Prophet (saw) and the Sahaba (ra) ?

    I came across this...

    According to Islamic law, the Islamic dinar is a coin of pure gold weighing 4.25 grams. The Islamic dirham coin is 2.975 grams of pure silver. Umar Ibn al-Khattab established the known standard relationship between them based on their weights: "7 dinars must be equivalent (in weight) to 10 dirhams.

    How much is 4.25 grams of gold worth in $ or £'s today ?

    I ask because i came across a interesting hadith in Bukhari...

    'Auf bin Malik reported: "I came to the Prophet, Allah blessed him and granted him peace, during the battle of Tabuk while he was in a leather tent, and he said: 'Count six things before the last hour: my death, then the conquest of Jerusalem, then the pestilence that will overtake you like the disease of cattle, then the excess of wealth, so much that when a man shall be given a hundred dinars he shall remain dissatisfied, then revolution from which not a single house in Arabia shall be spared, then a treaty between you and the Westerners (Banu Asfar - the Romans), but they shall cheat you and march against you under 80 banners with 12000 soldiers under each banner. (Bukhari)


    Whether or not this hadith is talking about the Arab Spring Revolutions and NATO betraying us i don't know lol, but the bit about the wealth i just wondered how much would be 100 Dinars, would it be like £5000 ? or are my calculations way off ? I was just thinking about a sum like £5000 would not suffice most people and most people would not be satisfied with that because they want/need a lot more money than that to live, while in the time of the Sahaba a person could probably get by very comfortably on such a large amount.
    "And remind, for indeed, the reminder benefits the believers"(51:55)


    The Snake and Malik ibn Dinar http://www.youtube.com/watch?v=iOfrNtDw5Yc

  • #2
    Well 100 dinars would be 425 grams which would equate to about 15 ounces. Gold is at around £1100 or $1700 an ounce so 100 dinars would be about £16500 or $25600 and 1 dinar would be £165 or $256.
    Last edited by Al_Ghurabaa; 29-11-11, 02:39 PM.
    "O you who believe! Whoever from among you turns back from his religion, Allah will bring a people whom He will love and they will love Him; humble towards the believers, stern towards the disbelievers, fighting in the Way of Allah, and never afraid of the blame of the blamers. That is the Grace of Allah which He bestows on whom He wills. And Allah is All-Sufficient for His creatures' needs, All-Knower."[al-Ma'ida: 54]

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    • #3
      Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

      1 gram is $55 today (it changes everyday). Times 4.25 is $234. So each dinar is $234 aprox. Multiplied by $100 you get $23,400.

      This is all rough. I rounded up all values to the whole dollar amount (it was only a few cents off, anyway) and this value changes slightly everyday.

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      • #4
        Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

        Jazakallah khair, so there will be a time when a person is given £16500 ($25600) and he will not be satisfied, sounds like today lol

        For people in rich countries that is 1 years salary, and often they complan it is not enough to live on in the big cities.
        "And remind, for indeed, the reminder benefits the believers"(51:55)


        The Snake and Malik ibn Dinar http://www.youtube.com/watch?v=iOfrNtDw5Yc

        Comment


        • #5
          Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

          Yeah, I make more than that a year and we couldn't live on it.

          When we discuss money then vs. money now though I can't help but wonder if they intend what a person could buy with that money then v. what they can buy with it now.

          So if 100 dinars during the time of the Prophet saws bought you a huge estate with servants and gardens and camels etc etc. then the equivalent today wouldn't be $23,400-$25,600 it would be much, much higher. If you get me.
          "Do not let your hatred of a people incite you to aggression." Qur'an 5:2

          Comment


          • #6
            Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

            ^The availability of loans has distorted such calculations, house prices cannot be compared in a way so straightforward..
            Comparing prices of bread (we don't need to take a loan out for bread...yet! ) would be more helpful..
            وَإِذَا قِيلَ لَهُمۡ ءَامِنُواْ كَمَآ ءَامَنَ ٱلنَّاسُ قَالُوٓاْ أَنُؤۡمِنُ كَمَآ ءَامَنَ ٱلسُّفَهَآءُ*ۗ أَلَآ إِنَّهُمۡ هُمُ ٱلسُّفَهَآءُ وَلَـٰكِن لَّا يَعۡلَمُونَ


            And when it is said unto them: believe as the people believe, they say: Shall we believe as the foolish believe? Beware! They indeed are the foolish? But they know not.
            Al Baqarah : Verse 13

            Comment


            • #7
              Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

              Originally posted by i.badat View Post
              ^The availability of loans has distorted such calculations, house prices cannot be compared in a way so straightforward..
              Comparing prices of bread (we don't need to take a loan out for bread...yet! ) would be more helpful..
              Availability of loans? what loans?

              There is no such thing as interest free loans in UK.
              "And remind, for indeed, the reminder benefits the believers"(51:55)


              The Snake and Malik ibn Dinar http://www.youtube.com/watch?v=iOfrNtDw5Yc

              Comment


              • #8
                Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                Sorry, I never explained myself..

                As you know, prices depend on market forces, and the ability of the consumer to pay..

                If a consumer, in general (not only Muslim) has access to loans, this person has an option to pay more money for a house, a figure higher than his income..I have not heard money being lent for purposes of buying houses at Rasulullah Sallallahu alaihi wasallam's time, they used what they had, not what they could borrow..

                Therefore, the property market in these two eras have 2 totally different underpinnings, and therefore cannot be compared efficiently..
                وَإِذَا قِيلَ لَهُمۡ ءَامِنُواْ كَمَآ ءَامَنَ ٱلنَّاسُ قَالُوٓاْ أَنُؤۡمِنُ كَمَآ ءَامَنَ ٱلسُّفَهَآءُ*ۗ أَلَآ إِنَّهُمۡ هُمُ ٱلسُّفَهَآءُ وَلَـٰكِن لَّا يَعۡلَمُونَ


                And when it is said unto them: believe as the people believe, they say: Shall we believe as the foolish believe? Beware! They indeed are the foolish? But they know not.
                Al Baqarah : Verse 13

                Comment


                • #9
                  Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                  Originally posted by Juvegirl View Post
                  Yeah, I make more than that a year and we couldn't live on it.

                  When we discuss money then vs. money now though I can't help but wonder if they intend what a person could buy with that money then v. what they can buy with it now.

                  So if 100 dinars during the time of the Prophet saws bought you a huge estate with servants and gardens and camels etc etc. then the equivalent today wouldn't be $23,400-$25,600 it would be much, much higher. If you get me.
                  That is true, its called inflation
                  Collection of Arabic Learning material and Islamic Books



                  Away for a bit

                  Comment


                  • #10
                    Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                    Originally posted by i.badat View Post
                    Sorry, I never explained myself..

                    As you know, prices depend on market forces, and the ability of the consumer to pay..

                    If a consumer, in general (not only Muslim) has access to loans, this person has an option to pay more money for a house, a figure higher than his income..I have not heard money being lent for purposes of buying houses at Rasulullah Sallallahu alaihi wasallam's time, they used what they had, not what they could borrow..

                    Therefore, the property market in these two eras have 2 totally different underpinnings, and therefore cannot be compared efficiently..
                    Loans and Buying houses was part of the Sahabas lives as well. They just did not put as much emphasis on it as we do, the emphasis back then was on Jihad and ghanima.
                    "And remind, for indeed, the reminder benefits the believers"(51:55)


                    The Snake and Malik ibn Dinar http://www.youtube.com/watch?v=iOfrNtDw5Yc

                    Comment


                    • #11
                      Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                      Exactly, 2 different underpinnings for the same industry..

                      It renders them incomparable..
                      وَإِذَا قِيلَ لَهُمۡ ءَامِنُواْ كَمَآ ءَامَنَ ٱلنَّاسُ قَالُوٓاْ أَنُؤۡمِنُ كَمَآ ءَامَنَ ٱلسُّفَهَآءُ*ۗ أَلَآ إِنَّهُمۡ هُمُ ٱلسُّفَهَآءُ وَلَـٰكِن لَّا يَعۡلَمُونَ


                      And when it is said unto them: believe as the people believe, they say: Shall we believe as the foolish believe? Beware! They indeed are the foolish? But they know not.
                      Al Baqarah : Verse 13

                      Comment


                      • #12
                        Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                        Originally posted by Yunus aua View Post
                        That is true, its called inflation
                        Inflation is not the issue because we are talking about Gold.

                        The point being that 425 grams of Gold was a heck of a lot of money back then, and it still is now, except because of the modern ways of living we don't regard it as a lot any more.

                        It is equivilant to 1 years salary now.

                        So if someone gave you 1 years salary, you would say thankyouvery much but you would not be satisfied because it will not last forever.

                        In that sense the hadith has come true already in our times.
                        "And remind, for indeed, the reminder benefits the believers"(51:55)


                        The Snake and Malik ibn Dinar http://www.youtube.com/watch?v=iOfrNtDw5Yc

                        Comment


                        • #13
                          Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                          Originally posted by yassin' View Post
                          Inflation is not the issue because we are talking about Gold.
                          I'm sorry but I think it DOES count because Gold for them was currency. We don't use it directly as such anymore.
                          "Do not let your hatred of a people incite you to aggression." Qur'an 5:2

                          Comment


                          • #14
                            Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                            I did a little consulting with Sheikh Google, and this is what I was able to find. Make of it what you will.

                            http://www.jewishmag.com/145mag/jewi...wish_coins.htm

                            ...1st and 2nd cent. AD...
                            DINAR
                            ...
                            (Jewish marriage contract) being worth twenty dinars and a house with the value of ten dinars...
                            So a few centuries earlier, a house was worth 10 dinars. So at that time, 100 dinars would have had enough buying power to get you 10 houses.

                            Doing simple and probably inaccurate math:

                            Your average house price today is, what? between $250,000-$750,000 (depending on where you live.) Let's go with the lower number.
                            10 houses would then be $2,500,000

                            The Prophet saws lived in the 7th century, right? So the 600s? That means about 500 years between when this information about the value of a dinar was noted, and when the Prophet saws said the hadith quoted. The buying power of an equivalent amount of gold today is, based on the calculations done earlier, about $25,000 or 1/10 of what is needed for one house today.

                            This is, as I said, not really reliable math, but I'm at work and just kind of roughing this in.

                            I still think that most people would not be very satisfied with $2.5 million. A lot of people would, but a lot more would keep working and trying to get more money.
                            "Do not let your hatred of a people incite you to aggression." Qur'an 5:2

                            Comment


                            • #15
                              Re: How much was 1 Gold Dinar worth in the time of the Sahaba (ra) ?

                              Interesting articles you should read:

                              Prepare for Riots in Euro Collapse, Foreign Office Warns:

                              http://www.informationclearinghouse....ticle29832.htm

                              Bankers Have Seized Europe / Goldman Sachs Has Taken Over:

                              http://www.informationclearinghouse....ticle29823.htm

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