Sayyiduna Abdullah bin Umar (may Allah be pleased with them both) said: There is no zakah on goods except what is for trade. The Shaykh said: This is the view of the generality of the people of knowledge. As for what is narrated from Sayyiduna Ibn Abbas (may Allah be pleased with them both), that he said: There is no zakah on goods, Imam al-Shafi'i (may Allah have mercy on him) said in his old book: The chain of the hadith from Ibn Abbas (may Allah be pleased with them both) is weak, so following the hadith of Ibn Umar (may Allah be pleased with them both), because of its soundness and out of caution in zakah, is dearer to me. The Shaykh said: Ibn al-Mundhir reported from Sayyidah Aishah and Sayyiduna Ibn Abbas (may Allah be pleased with them) the like of what we have narrated from Ibn Umar, and he did not report anyone differing from them; so it is possible that the meaning of his statement, if it is authentic, "There is no zakah on goods" is: when trade is not intended by them.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الزكاة / 7605