Lavish adaptation of Wilhelm Hauff′s fairy tale: Young charburner Peter Munk dreams of joining the upper class. He makes a deal with the sinister Holländer-Michel, who offers to trade Peter′s human heart for one made of stone. Once he has the "cold heart" in his body, Peter eventually strikes a fortune and enjoys great wealth, but at the same time, he becomes a bitter and emotionless man – and, having lost all traces of humanity, even murders his wife Lisbeth. Only then does Peter Munk finally realize what has become of him, and he decides to regain his real heart from Holländer-Michel.

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