How Sweet!
(and Canadian too!!)
Perhaps do something that coordinates with your quilt?
I like Tartan's idea of monogramming ... towels, table linens, glasses/crystal, stationary etc. with their initials
Even though they both have more than they need, they will enjoy getting things that are "theirs" instead of "yours/mine". So think of what you would normally give, and perhaps follow thru on the traditional.
Another thought ... maybe they would sooner have gifts made in their honour to a charity fo their choice? When my Uncle re-married (in his late 70s!), I chose a charity to which they both had strong connections and they were thrilled.