Gift giving is at the heart of this Christmas story. The title “The Gift of the Magi” references the first gifts given in the Christmas tradition, which the Magi, commonly referred to as the Three Kings or the Three Wise men, gave to the infant Jesus. The Magi’s gifts—gold, frankincense, and myrrh—were luxurious and priceless. (Frankincense and myrrh are fragrances made from tree sap and at the time valued more than gold.) Since the Magi were kings, they could likely afford to give such fine gifts. At the conclusion of the story, O. Henry writes, “The magi, as you know, were wise men—wonderfully wise men— who brought gifts to the newborn Christ-child. They were the first to give Christmas gifts. Being wise, their gifts were doubtless wise ones” (6). In “The Gift of the Magi,” O. Henry compares the Magi’s gift giving with Jim and Della’s gift giving.

We sense this is Jim and Della’s first Christmas together and their first time buying gifts for each other. Jim and Della each buy expensive gifts, but the main difference between their acts of generosity and the Magi’s is the personal sacrifice Jim and Della had to make. To buy each other gifts, Jim and Della had to sell their prized possession.