When viewing an item hold in hand from thirdperson view, Back-faces are shown. Can resulting in flickering and other viewing issues.

Back-faces: Side of face that is not supposed to be rendered. Like the inside of a cube.

This seams to affect all items/models. Not just the one I use as example here.

This probably only affect user created objects.

Screen-dump: Notice the difference between the bottle in the hand and the selected one in the bar.