I found a VERY good solution for my situation at Grand & Benedicts The product is called a "pin_up hook", their part number is 009-333 and the hooks cost 15 cents each. The pin-up hooks have two pegboard hooks that hold the hook really well in the pegboard. I use two of the hooks on larger paintings so that the paintings don't tilt on me or fall to the floor.
My display panels are like large pages of a picture book and when the "page" is turned the paintings don't fall!
Grand & Benedicts also has all sorts of other kinds of pegboard hooks on this page.
This review and testimonial is unsolicited and my own private opinion!
Click on the pin-up hook image (below) to see the Grand & Bendecits product page.