The two main characters in "Gift of the Magi" are a husband and wife who give up their most precious possessions to be able to afford gifts for each other on Christmas Eve. The story seems to be all about sacrifice. We watch Della go through the process of deciding to make the sacrifice and going through with it, only to discover that her husband has made the same sacrifice. The story's narrator assures us that in their willingness to give up all they have, they have proven themselves the wisest of all gift-givers. It might remain unclear, though, exactly what their sacrifice has accomplished, or how it has affected them.
Della does not perceive the loss of her hair as a sacrifice.