While the rigged model is useful for being worn, it is not very useful as a held or dropped item. For this purpose, we need two models for a given piece of equipment (with the exception of head items).
One for being worn on the character, and as an item to be held in the hand. Head-worn items generally do not deform like most clothes do, so it is unnecessary to make separate rigged and item versions of these articles.
The equipped item vs. the held item.
If for some reason you need your head-worn item to deform, then you will likely need a separate held item for it as well.
Items like headwear generally look fine without needing a held item version.