A silly question? Sure, but what are Mary and Joseph supposed to have done with that stuff?
Now, I don’t believe the whole magi gift story is historically valid. It all sounds like dramatic foreshadowing to me and only Matthew even mentions it. But what was supposed to have been done with this stuff? These were gifts meant for a king after all. They would have to have been worth a fortune. Wouldn’t little Jesus have been set for life just on the value of the gold alone?
Taxes. They made baby Jesus cry.
Perhaps they donated the gifts to the Temple?
I’m assuming you knew this already, but “Christ” wasn’t like a surname or anything. It’s the anglicized version of the Greek “Christos”, meaning “anointed one”- the Greek equivalent of the Hebrew “messiah”.
Re the name, Christ would have been called something like Joshua ben Joseph.
I always assumed they used the Magi’s loot to finance the trip to Egypt.
You really have no idea what the nightly rate for a stable is do you?
On a more serious note, Jesus apparently had a pretty good education, better than one might expect from a carpenter’s son (unless, of course, he just had all of the information automatically, through divine omniscience, as John likes to suggest). I’ve heard it suggested that Mary and Joe, being responsible parents, might have put the gold towards little Joshie’s college fund. The frankencense and myrh were used in embalming, and would have been set aside until needed.
“frankencense and myrh were used in embalming”
Had no idea. What a baby-shower gift!
“Here, I bought some embalming fluid in case the baby dies, and some gold to pay for the funeral!”
On a serious note, while both frankincense and myrrh were used in embalming, both have other uses beyond prettying up a corpse.
Frankincense is still burned throughout the Middle East as incense at non-death-related venues (hence the name).
But the baby’s name wasn’t Frank. (Don’t be incensed) 
But what did the “H.” stand for?
Haploid.
Jesus “Holy” Christ? That is what I assumed it always meant…
While the Gospels give very little information on Jesus’s life before he began his ministry, Matthew jumps from the return from Egypt (he’s the only source suggesting that the Holy Family even went to Egypt) to Nazareth, with Jesus aged about 2, all the way to John the Baptist’s ministry and Jesus’s baptism by him, Jesus being aged about 30.
Luke at least throws in the visit to the Temple, when he was about 12. (Mark doesn’t even look at Jesus before he started preaching, and John jumps from his Prologue, which is philosophical poetry about the pre-existent Word becoming incarnate as Jesus, straight to, you guessed it, John the Baptist’s ministry.)
This very interesting Wiki article says that the gifts of the Magi were given symbolic meaning as early as the 4th Century.
The lyrics to the carol “We Three Kings” sets out at least some of those symbolic meanings:
Gold = Kingship: “Born a King on Bethlehem’s plain; Gold I bring to crown Him again”
Frankensense = Godhood: “Frankincense to offer have I; Incense owns a Deity nigh”
Myrrh = Death: “Myrrh is mine, its bitter perfume, Breathes of life of gathering gloom; Sorrowing, sighing, bleeding, dying, Sealed in the stone-cold tomb.”
Another symbolic parallels drawn include: gold=His life on earth; myrrh=His death; frankensense = His eternal Godhood.
As to what was done with the gifts – Since the Scriptures don’t say, all anyone has is guesses or made-up solutions, but I have heard: (1) the frankensense was burned at the Temple when Jesus was circumcised; (2) the gold financed the flight into Egypt; and (3) the myrrh was used when He died. This theory tracks the symbolism of the gifts and also identifies a practical use for them in the events of the life of Jesus.
I always thought it came from the first three letters (IHS) of the Greek version of the name: link
[hijack]
When I was little, I thought there was a country called “Orientar.”
I also assumed St. Mary was really fat. “Round yon virgin . . .”
[/hijack]
BTW, in Robert Graves’ novel King Jesus you will learn exactly what became of the gifts of the Magi, plus the answers to a whole lot of other questions you never knew you wanted desperately to ask. I recommend it highly.
A story consists only of what’s in the story and nothing else. Matthew doesn’t say what happened to the swag, therefore the question has no answer. The audience can fill in any answer it wants.
Everyone nows the “H” stands for howard. From the prayer: Our Father in heaven, Howard by thy name.
Duh.