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I think that reason is rooted in what you state. Gift Cards are less liquid than Cash, which makes it a better gift for the giver. It shows that they actually put some thought into what to get you. Not enough to actually buy you a gift, but enough to choose the store for you. It's hard for my grandparents to shop for me, but they know I'm a nerd so they always get me a Circuit City gift card. You can give cash to anyone, and thats part of what makes it great, but when you're giving someone a gift the deeper meaning is what matter. Cash is cold and hard, no personality except for the creepy stare Franklin has. The giftcards show that the person put a little time in, making the trip to the store on their way home from work.
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