How about a book of the month club? Nice books are expensive, and that would be a gift that would keep on giving. My mother splurged (it was a huge splurge for us back then) and enrolled me in a book of the month club when I was little. She saved those books and gave them to my sons. My sons just passed them on to their new baby cousin.

http://www.cbomc.com/

That's the link to the book of the month club. I had to get off of the site fast because I could get into SOOOO much trouble there. So many wonderful books.