I have a pretty small pipe, and what I do actually works REALLY well. And I even store up to an ounce with the pipe.

I got a thermos at wal-mart that my pipe fits inside. I take two squareish paper towels (I say squarish, because some people have the rolls that cut the paper towel sheets in half size normal ones) and wrap it up like a sandwich. I stuff it alone with my ounce in the thermos. Oddly enough, the actual serious thermos lid does very little to stop the smell from seeping out, but the cup/bowl attachment for like coffee or soup stops the smell well. I'll admit it is a little labor intensive, but it works amazingly well.

I attached a picture of a similar model to my thermos.