See gold lie around in bay (5)
I believe the answer is:
oriel
'bay' is the definition.
(I've seen this before)
'see gold lie around in' is the wordplay.
'see gold' becomes 'or' ('or' is the heraldic name for gold).
'around' is an anagram indicator.
'in' indicates putting letters inside.
'lie' anagrammed gives 'iel'.
'or' going inside 'iel' is 'ORIEL'.
(Other definitions for oriel that I've seen before include "Bay window projecting from a wall" , "Opening" , "Loire (anag.)" , "One could look through this" , "Type of window; Oxford college" .)