Gift of the Magi - New Hallmark movie

A newlywed couple burdened with economic hardship decides not to exchange Christmas presents to save money over the holidays. Secretly, they make sacrifices to buy the other a special gift. Starring Marla Sokoloff and Mark Webber.

Based on the classic short story "The Gift of the Magi" written by O. Henry.

Premieres December 16, 2010 on the Hallmark channel. (more showings)

Not sure how this tv movie will fare but it's one of my favourite Christmas memories. I previously watched a black and white period drama depicting O. Henry's story but can't seem to find it.

"One dollar and eighty-seven cents. That was all. And sixty cents of it was in pennies. Pennies saved one and two at a time by bulldozing the grocer and the vegetable man and the butcher until one's cheeks burned with the silent imputation of parsimony that such close dealing implied. Three times Della counted it. One dollar and eighty- seven cents. And the next day would be Christmas..."

Read rest of short story

Here's one adaptation of the story, as part of Twentieth Century Fox's anthology of 5 plays by O. Henry. (Thanks to Elisabeth for finding it!)
Directed by Henry King, from a screenplay by Walter Bullock, it stars Jeanne Crain and Farley Granger. Introduced by John Steinbeck.

Part 1/3 - the rest can be found on Youtube...