curtis73
Those pins are debatably fine for towing, if they are the right strength. Grades of bolts basically indicate their hardness and therefore tensile strength. Grade 2 (normal cheap stuff) you can bend a few times and still have a viable bolt for holding a picture on your wall. They're pretty soft. The one thing they don't do well is high tensile forces. The soft steel will either strip the threads or literally pull the fastener apart.
Grade 5 bolts add a significant amount of tensile strength but can still take side loads with composure. They will bend a decent amount before breaking. Grade 8 bolts are very high tensile strength. They are best used in applications where their entire load is tension. They don't like to bend. I used to use grade 8 bolts through a chain link to hoist engines until I lost one. I had a grade 8 bolt threaded in the whole way into a head. It didn't bend a bit before shearing off flush with the head. I won't talk about the brand new polished aluminum oil pan or $400 radiator that bit the dust in the process.
For instance, when you see engine fasteners from companies like ARP, they often list their tensile strength. In applications like rod and main bolts, the higher the better. They never see side loads at all. Applications like hitches are a different story. That is purely shear loading.... which brings me to my next confusing part...
If you have a hitch insert, the shear loads placed on the fastener are very localized. A hard grade 8 bolt would usually suffice since the close shear tolerance prevents the fastener from deflecting. In that situation, the softer bolts migh prove problematic since they might abrade and get smooshed under those kind of loads.
So... provided the pin is the proper size for the hole, and the insert is the proper size for the receiver, all should be well. Most of those pins are listed as having a certain tensile or shear strength.