It's Christmas Eve. Della sat in their small home, who she shares with Jim, her husband, for $8 a week on $20, with her only savings $1.87 in her hands.
The couple had 2 most precious possessions. Jim owns the best watch in the world, which is passed down to him as a heirloom. Della's beautiful hair is even more beautiful than the Queen's jewels and gifts.
To buy Jim a gift, Della decides to sell her precious hair for $20. Della takes the money bought Jim a gold chain to go with his golden watch. She then, quickly rushed home to cook dinner, and wait for Jim to come back home.
Will you buy my hair?
As Jim walks through the door, he stares at Della blankly, then gently threw his gift on the table. He then asked Della to see the gift and understand why he reacted this way.
I sold my hair to buy a gift for you. Now my hair's gone, you won't care, will you?
After finding out that Jim sold his gold watch to buy her the set of combs to gift her, Della also gave the gold chain to Jim, although they both clearly know that the gifts are useless to them for now.
Jim tells Della that they should put our Christmas gifts away and keep them a while. They're too nice to use now, and then ate dinner together.