Parents across the country could find themselves reaching for their wallets tonight as National Tooth Fairy Day is celebrated on Saturday, 22 August.

The day celebrates one of childhood’s best-known traditions – placing a lost tooth under a pillow before going to sleep in the hope that the Tooth Fairy will exchange it for a little money overnight.

National Tooth Fairy Day is marked on 22 August, while another celebration of the childhood favourite takes place on 28 February.

The Tooth Fairy tradition became increasingly popular during the early 20th century, when encouraging children to care for their teeth became an important part of health campaigns.

Generations of youngsters have since gone to bed excitedly awaiting a visit, although what the fairy leaves behind has certainly changed over the years.

Where once a few pennies might have been considered a small fortune, today’s parents can face considerably higher expectations.

And that raises the all-important question:

What is the going rate for the Tooth Fairy in your house?

Is it £1 a tooth? £2? £5? Or does losing that particularly stubborn first tooth command a premium?

Whatever the amount, the tradition continues to turn one of the slightly stranger experiences of childhood – having a tooth fall out – into something children can look forward to.

So, with pillows being carefully checked across the country tonight, we’d like to hear from parents:

How much does the Tooth Fairy leave for a tooth in your house – and does she pay extra for the first one? 🦷🧚‍♀️💷

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