Is it permissible to return golden gifts received at the birth of a child for their monetary value? And should they be returned at the value of gold at the time of the gift or at its current price?

It is permissible to give a recompense for gifts and to reward them with something similar or different, based on the saying of Aisha (may Allah be pleased with her): "The Messenger of Allah (peace and blessings of Allah be upon him) used to accept gifts and reward for them."

If the giver stipulated a recompense, or if it is customary, then it is a gift of reward (hibat thawāb), and it has the rulings of a sale. Usury (riba) must be avoided in it.

If the gift is from usurious categories, such as metals and currencies, and its reward is with a similar usurious category, then there must be equality and immediate possession in the same sitting.

So, if gold was gifted to the questioner and she returned money, she has fallen into riba al-nasī'ah (riba of delay). To avoid this, she should return an item (ʻard) equivalent to the value of the gold on the day she received the gift.

However, if the gift is not intended for recompense, then the questioner is not obliged to return it, nor is it required to be of the same value as what was gifted to her, or of the same type.