A binder including a binding mechanism having at least one ring member for securing a plurality of pages within the binder; at least one spine member pivotally connected to the binding mechanism; and at least one cover pivotally connected to the at least one spine member. A pin may be provided to secure the at least one ring member to the binding mechanism. The binder may also include a sleeve mounted on the cover for maintaining the at least one cover and the at least one spine member in a fixed position in a single plane. Where two spine members and two covers are used, the two spine members and two covers are advantageously in close parallel relation when in a fully opened position and hide the binding mechanism when fully closed.