Andrew, I have experimented with several options and finally found a solution for my needs. I wanted archival protection combined with the ability to easily and safely view the front and back of my photos.
First, I bought a Century Box, a three ring archival storage box.
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Next, I added mylar three sided sealed envelopes to hold the photo. With the mylar contacting the front and back the photo stays in place even with flipping the pages. Hole punched binder insert strips can be used to attach the envelope to the three ring binder D ring. This particular photo is slightly faded, but generally the mylar does not impede the image visibility.
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Next, I attached black cardstock in the same manner behind the mylar envelope to provide a viewing background.
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The back can still be easily viewed since the black cardstock is not enclosed within the mylar envelope.
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