"The Gift of the Magi" is a touching Christmas tale about how far a husband and wife will go for one another, despite their poverty. To show their true love and devotion to one another, right before Christmas, Della and her husband Jim set out separately to purchase Christmas presents. Having less than three dollars in each of their pockets, they each make a great sacrifice in order to purchase the perfect gift for one another. Della sells her beautiful hair for $20 in order to buy her husband a platinum chain for his watch. Meanwhile, Jim sells his heirloom watch to buy a beautiful set of combs for Della to put in her hair.
The greatest gift of all is unconditional love. Through Jim and Della's selfless efforts to procure gifts for each other and their reactions to the gifts they receive, they prove love is more important than material possessions.
To make their spouse happy, Jim and Della each sacrifice their most prized possession. For Jim, it is a family heirloom, his grandfather’s watch. For Della, it is her long, beautiful hair. Their story reinforces the idea that it truly is better to give than to receive.