Is There Zakat on Jewelry?
The short answer
Women pay no Zakat on jewelry that they use to ornament themselves.
Muslims pays Zakat on jewelry (when it reaches a nisab threshold value equal to 85 grams of pure gold) in four cases:
When one hoards it as a store of value to accumulate wealth
When one hoards it in quantities commonly considered in excess of ordinary accumulation
When the jewelry, in itself or in aggregate, is generally recognized as extravagant:
in quantity
in size as relates to monetary worth
in composition as applies to its market price
(note: Islam prohibits extravagance, or deems it at least reprehensible.)
When men own jewelry. This is because Islam forbids gold, silver, or other ornaments for men and any forbidden use of gold and silver is subject to Zakat. There are two exceptional uses of silver ornamentation for men:
A plain silver ring, because the Prophet, on him be peace, wore a silver ring.
A silver-ornamented sword handle, because the Prophet, on him be peace, had a sword with a hilt made of silver, and his Companion Al-Zubayr had a sword with a hilt adorned with silver.