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Here is my dilemma, do I buy a locking pin and keep track of yet another key or just use a carter pin because the chance of a thief with those same initials is so remote.
Or will people just steal anything?
Raoul, nice bling ...and to Dave's point, there is no question in my mind but you need a locking hitch pin. Some malicious thug can always come out of nowhere and IMHO it's best to at least try and discourage their antics. A Masterlock hitch lock will cost you about $20 at your local home improvement store -- it's what I have to protect the bling on my RX hitch, and is pretty well hidden when in place. I keep one key on a ring with my bike carrier key that are both in a pouch with my wheel lug lock key to prevent rattles near the spare tire, and the other in a tool box with other car accessories in my garage.
We all have out things. My initials are on my custom license plate, so I had to go with a different custom aluminum cover for my hitch to make me, and hopefully folks following me smile, or at least wonder what kind of Disney nut is driving that sparkly Lexus Hybrid in front of them. )