Certificate- Wallet or Bag?

wrote:

Yes you are. Part 61.3.l:

Inspection of Certificate. Each person who holds an
airman certificate, medical certificate, authorization,
or license required by this part must present it for
inspection upon request from:
(1) The Administrator;
(2) An authorized represenative of the NTSB; or
(3) Any Federal, State, or local law enforcement
officer.

In short, Barney Fife could "request" to see your cert, and probably
seize it (I think that's another section of Part 61; definitely if
you're intoxicated, as recent airline events have shown.).

And even if it did get seized just go fly anyway. This has already
happened and the FAA will Fedex you your stuff back with profound apologies.