Absolutely! We had many, MANY years of being too broke for much of any kind of gifts, but my kids were always happy and very thankful for anything they did receive and loved making gifts for others. We would spend Christmas morning delivering cookies to people who were working at hospitals and fire stations and police stations and that was their favorite part, even though they had to wait until afternoon to open gifts.
And yet they had friends who were wealthy and would literally get thousands of dollars in gifts and be ungrateful and awful about it. It was an eye opening lesson for all of us!
I still always wish that I could get more for them, but I know that when I can't, they are still thankful and wonderful about just getting to spend time together (they're mostly all grown and out of the house now)
We have given silver ounces for the last several years. The grandkids call it "big money" lol! Hoping to make a little nest age for them when they are older. I think my kids might get cryptokitties... lol! We try not to participate in the commercialized version of the holiday. :)