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Old Testament: “Thou lovest righteousness, and hatest wickedness: therefore God, thy God, hath anointed thee with the oil of gladness above thy fellows. All thy garments smell of myrrh, and aloes, and cassia…” Psalm 45:7-8a (KJV)

New Testament: “But my God shall supply all your need according to his riches in glory by Christ Jesus.” Philippians 4:19 (KJV)

Gospel: “And when they (the Magi) were come into the house, they saw the young child with Mary his mother, and fell down, and worshipped him: and when they had opened their treasures, they presented unto him gifts; gold, and frankincense, and myrrh.” Matthew 2:11 (KJV)

Epiphany is the final event in the Christmas season. Epiphany celebrates the appearing of Jesus to the first Gentiles. This transpired when the Magi located and worshipped Jesus.
 
Most people believe there were three wise men. Actually there were three predominant gifts. Incidentally, the earliest Epiphany art (paintings) depict a large entourage with as many as 24 Magi worshipping Jesus. The names of the Magi have been lost to history save for three commonly used: Gaspar, Balthasar, and Melchior.

 Most people believe the wise men presented gifts to the baby Jesus wrapped in swaddling cloths lying in a manger. In reality the Magi were not part of that scene. By the time the Magi arrived, Jesus was possibly six months old and the family was residing in a house in Bethlehem, not inside a stable.

The Magi presented gifts and Matthew emphasizes three particular treasures:
Gold – has been a highly sought-after precious metal for coinage, jewelry, and other arts since the beginning of recorded history. Gold has always been an exchange item based on size, weight and purity of the bar or coinage.

Frankincense - has been traded on the Arabian Peninsula and in North Africa for over 5000 years. It is used in perfumes, medicines and incenses. Because it was scarce (precious) frankincense was considered as valuable as gold. Frankincense could be used as currency to cover loans or purchase property.

Myrrh – in ancient Roman times, myrrh was often worth more than its weight in gold. Likewise it was considered to be worth five times its weight in frankincense. It was an ingredient in royal perfumes and vital in the embalming process. As such myrrh is thought of as a gift (or treasure) for preserving not only human remains, but the memory of the deceased.  

With the Magi presenting precious gifts to Jesus, the Holy Family acquired sustained wealth. These three gifts were investments in Jesus’ future and ensured the family maintained the ability to meet every day challenges. The journey from Bethlehem, the time spent in Egypt and the eventual settlement in Nazareth were not without cost.