When Kipps and Ann were children, Kipps cut a sixpence in half and told Ann to look at it whenever she missed him. Years later, Kipps is working as an apprentice in a draper’s shop. Ann arrives in town and they soon re-kindle their friendship. However, everything changes when Kipps discovers he has inherited a fortune.
Kipps leaves the shop and is drawn into high society where he meets and falls in love with Helen Walsingham. They get engaged, but Ann finds out before Kipps has a chance to tell her. Furious and upset, she claims that she never wants to see him again.
Despite his new-found wealth, Kipps isn’t happy with the changes that high society forces upon him. He calls of his engagement to Helen and begs Ann to take him back. She agrees and they settle down together with Kipps’s fortune.
However, Ann just wants a simple life and arguments about the money threaten their marriage - until Kipps learns that his financial adviser has speculated all the money away. He and Ann reconcile, realising that all that matters is that they have each other.