A label holder including a transparent cover member overlying a main body panel to define therebetween a lockable label-receiving pocket. The cover member is normally biased to a closed position by a hinge interconnecting the lower edges of the cover member and the main body panel, and being movable about the hinge to an open position to spread a gap at the top of the pocket for insertion and removal of labels from the pocket. A dust cover is provided to span and seal the gap when the cover member is in its closed position without interfering with the locking feature.