OK the ax is not made of gold – not even the head. I would take a truly “gold” ax but for different reasons. What I desire here is a brass or bronze ax. “Golden” is more concise than “brass/bronze”. To be fair it is “golden” in color.
These things are, or at least can be, fully functional depending on the make. They are, however, functionally inferior in almost every way to a steel head ax except that modern brass axes are as rust resistant as it gets.
Still that does not make up for their shortcomings. The reason most people buy functional versions of these is because they will not spark – say if you work around flammable gases.
There are also versions of these that are given as ceremonial gifts or awards to firefighters. But I like mine functional. If I owned a Model-T car I would not commute to work with it but I would demand that it at least be able to handle a yearly parade.
Aside from looking really cool (reason enough on its own), I want one because back in 1990 at the Disneyland Starcade I, along with a friend, beat the game Golden Axe and never got my “trophy”. This would be my prize.