Merlin's Shop of Mystical Wonders

In the 1996 movie, Ernest Borgnine plays a grandfather telling his grandson two tales of Merlin's shop of mystical wonders. Merlin has come from the past to open a shop in the present and teach people about the wonders of magic. When he loses his artifacts, two tales of so-called horror ensue, one of which is a reedit of the movie The Devil's Gift, which may have been a ripoff of Stephen King's short story "The Monkey".