Just sell it: You can sell gold to firms such as Muthoot, which are likely to offer better rates compared to local jewellers. Consumers who want to sell gold, usually, suffer a big haircut when they approach unorganised players. Not so with us. If you are in Mumbai, you don't even have to worry about carrying the gold to the company's branch, as they will collect it from your house, upon intimation. Sellers get instant cash for gold valued up to `20,000 and, for higher payments, the money is credited into their bank account.

Avail of MMTC buyback scheme: India's largest bullion supplier, MMTC, is expected to come up with a buyback offer for gold coins by the end of this month. We are currently in the software development stage and should launch this offer soon, across India. It would be a life-time facility available to customers and they can liquidate their coins whenever they want to. India consumes 90-100 tonne of gold coins annually. If you too have gold coins lying with you, MMTC's offer is tailor-made for you.

Monetise it: Gold accumulated over the years does not earn any intermittent income and its returns are fully dependent on its price (when it's being sold) .The government's gold monetisation scheme seeks to change this. It allows you to deposit a minimum of 30 grams in physical gold--jewellery, bullion, coins--with banks, and earn an interest on the deposit. You have option to keep your gold with the chosen bank for the short-term (1-3 years), mediumterm (5-7 years) and long-term (12-15 years). The current interest being offered ranges between 2.25 and 2.5%. It is a gold savings account-of-sorts and there is no tax on the interest income from these accounts.