There was a whole lot less pressure when I first wrote about online gift certificates back in late November. The holiday shopping season had just begun in earnest and there was an entire month before Christmas. Time marches on, and as it does, the opportunities for the perfect gift begin to dwindle. The hottest geek gifts disappear from store shelves and prices on the secondary market (ie: eBay) skyrocket. But there’s no reason to panic.

Sure … the holiday season always brings a flood of issues regarding price and availability.

Online gift certificates provide a hedge.

In the days and weeks after Christmas, those issues will subside. Those hard-to-get products reappear and with the abundance of product, the prices drop. In a way, online gift certificates let you bet on the futures market. You’re betting on lower prices and availability. So if you want to give the hot gift that’s sold out … you might think about giving a gift certificate, instead. (I reckon that it’ll take a month or so before the stores are flooded with those snappy new thin PS2s.)

Not concerned about the latest and greatest, but want to give a fabulous gift, nonetheless? Check out our handful of cool gift certificate picks:

Online Gift Certificate Pick - Music: Apple’s iTunes Store

The insanely popular iPod is at the top of many a Christmas list this season. What better to help stuff the stocking and fill the hard drive than the gift of digital music? Apple’s iTunes Store offers Prepaid Cards, in addition to Electronic and Paper Gift Certificates. Prepaid Cards and Paper Gift Certificates are shipped via snailmail, while the Electronic Gift Certificates are delivered immediately online. The Prepaid Cards are available in $15 and $25 denominations. Paper and Online iTunes Gift Certificates can be purchased at prices from $10 to $200 (in ten dollar increments). Individual songs are 99 cents each.

Online Gift Certificate Pick - One Stop Shopping: GiftCertificates.com

If you’re really pressed for time, you absolutely must check out GiftCertificates.com, where they offer online gift certificates from hundreds of retailers. Start your shopping here and you might not have to leave the site. :)

Online Gift Certificate Pick - Books: Borders/Barnes & Noble (tie)

The bookstore has become a favorite destination shopping excursion for millions. It’s not just about buying, it’s about the experience. Get out of the house and go browse, sit and read, baby! And don’t forget to get a nice cup of coffee or tea, while you’re at it. Borders Gift Cards can be redeemed at Borders, Waldenbooks and Brentano’s stores, as well as on Borders.com. Barnes & Noble Gift Cards can be redeemed at bn.com, as well as B&N, B. Dalton , Bookstar, Bookstop and Doubleday stores.

Online Gift Certificate Pick - Gourmet: Harry and David

Not sure which scrumptious gourmet gift basket to order? You can’t go wrong with a Harry and David gift certificate. These folks ship some amazing fruit baskets … a tad expensive, to be sure, but as the saying goes, “quality is remembered long after the price is forgotten.”