What Jay is saying is on the money. The graded holders for pins can have some moisture issues. Also, they aren't really easy to properly store and nicely display. They're really thick and yet, somewhat tiny. To me, the graded holders take away a lot from the pin and their presentation. And also as mentioned, I don't see grading of pins having anyway near the impact on pricing like it does with cards. Plus, the encapsulation of graded cards is often done to also protect the cards from damage and wear from handling. Pins don't have the same handling concern issues as cards. You aren't going to accidently crease a pin or damage a corner by holding and handling one.
The butterfly display cases Jay showed a sample of are a fantastic way to display pins. You can also use the white cardboard holders used for coins if you want to display fronts and backs of pins. And by using those cardboard single coin display holders you can even put your pins in a binder using multi-pocket pages. The graded pin holders are too bulky and thick to really work well if you want to display your pins in a binder.
At least for now, you don't really have pin collectors all that concerned, or that interested, with grading.
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