I don't have any fun stories, but I will say our tooth fairy gives $2 bills for each tooth. It's fun, different and still very spendable. (And you can still get them from any bank) I've heard of parents giving anywhere between $1 to $10, and even one doing $20 (don't be the parent giving twenties)
My children are really sound sleepers, so we've never had a problem making the swap. I will say that you should make sure the child's tooth is in a ziplock bag or something easy to find in the dark. And also that they have a bunch of baby teeth so don't do anything for the first that you can't sustain.
This is a lamp, not a candle.