When Miguel loses a tooth, two legendary characters come to claim it--one who is responsible for collecting teeth in the United States and one who has collected the teeth of the boy's parents and grandparents.
Joey tries to negotiate with the Tooth Fairy for the amount he thinks his tooth is really worth, but he gets a surprise and learns the values of work, money, and saving when the Tooth Fairy starts bargaining back.
Jane's mon and grandmother tell her that the Tooth Fairy will pay her money for her loose wiggly tooth, but Jane decides that she would rather keep the tooth.
After a puddle of slime is left under Jeremy's baby brother's pillow, Jeremy Kreep and his best friend, Nessy, set out to learn whether the tooth fairy is a superstition or a real fang collector.
Gaby overhears that the Tooth Fairy isn't real, he asks his father if he is the Tooth Fairy, and his father reassures him about the possibility for magic in the world.