The Nisab (quotum) of Gold is 20 mithqal (1440 grains of barely) which is 84.875 grams of pure gold, so about 85 grams for pure gold.

This is evaluated to 86 grams for 24karat gold, and 97 grams for 21karat gold, and 114 grams for 18karat gold. And for other karats, one needs to evaluate how much of pure gold it pertains and based on that will give the zakah if there is about 85grams of pure gold or more.

The Nisab of Silver is 200 dirham (10080 grains of barely) which is 594.125 grams of pure silver, and some evaluated it as 595 grams of pure silver.

The Zakah is due after the elapse of one lunar year on the full Nisab. One has to give in as zakah from that 1/4 of 1/10 of the market value of these, i.e., 1/40th which is 2.5% of the market value. And according to some renowned scholars, one may evaluate the %2.5 of the nisab with monetary value and give the money as Zakah to any of the 8 types of people mentioned in al-Qur’an.

Note: For all types of Zakah, the intention is obligatory upon setting one’s Zakah aside. Zakah must be paid to the Muslims among the eight categories of people deserving of Zakah mentioned explicitly in the Qur’an.

Allah mentioned in the Qur’an in Ayah 60 of Suratut-Tawbah:

إِنَّمَا الصَّدَقَاتُ لِلْفُقَرَاء وَالْمَسَاكِينِ وَالْعَامِلِينَ عَلَيْهَا وَالْمُؤَلَّفَةِ قُلُوبُهُمْ وَفِي الرِّقَابِ وَالْغَارِمِينَ وَفِي سَبِيلِ اللّهِ وَابْنِ السَّبِيلِ

Which means: {Zakah must be exclusively paid to the fuqara’, masakin, Al-^Amiluna ^Alayha, mu’allafatu qulubuhum, riqab, gharimun, fi sabilillah, and ibnus-sabil.}

So Zakah is given to any of the following:

1- Al-Fuqara’ : The poor who earn less than half of their basic needs.

2- Al-Masakin: The poor who earn half or more, but not all their basic needs.

3- Al-^Amiluna ^Alayha: The Zakah workers who are assigned by the caliph and work without pay.

4- Al-Mu’allafatu Qulubuhum: The new converts to Islam whose hearts are to be reconciled, whose peers may embrace Islam if these Muslims are given money.

5- Ar-Riqab: The slaves who are short in satisfying their contract for purchasing their freedom from their owners.

6- Al-Gharimun: Those who are unable to pay their debts.

7- Fi sabilillah: The volunteer fighters who fight for the sake of Allah. This does not include every voluntary good deed.

8- Ibnus-Sabil: The travelers who do not have enough to enable them to reach their destination.

* The Zakah of Fitr is due on every Muslim who is alive part of Ramadan and part of Shawwal (the month after Ramadan.) The Muslim pays it on behalf of himself, his Muslim wife, young children, and Muslim poor parents during the month of Ramadan or on the day of ^Idul-Fitr.

According to Imam ash-Shafi^iyy, the due Zakah for each is a “sa^” or four “mudds” (the fill of a pair of average-sized hands cupped together) of the most common staple food of one’s area, like wheat in USA.  However, according to Imam Abu Hanifah, the due Zakah is three “mudds” of wheat or six “mudds” of dates, barley or raisins. Alternatively one may pay the value of these “mudds”. In the USA, it is estimated to be about $ 6.00 (Year 2011).  One intends that any amount in excess of the due Zakah is given as a charitable donation.