Our badge (officially badge, not pin) is available in plain gold, gold with close set pearls, or gold with crown set pearls. Range from about $30-$190; more if you also get chapter guards (especially the 3 letter chapters with the pearls!), dangles, etc.
Everyone in my chapter had plain. The pearl-set ones look to girly for the guys and most of us couldn't afford the upgrade. So there was no pressure towards any one type. I personally don't like pearls, so I won't ever upgrade anyways. (Unless we start offering a silver/white gold option.. then I'll be the first to order it!) :P
Lost of the female alumnae from all of the chapters do upgrade, though, once they can afford to. And if we offered a diamond one I might have to save up, because those sound awesome!
Here are the 3 styles of badge, and you can see that one has a guard and dangle:
