That looks like a fairly old ax pattern - probably a real antique. Your story reminded me of a story from Ben Franklin's autobiography. Here it is - The Speckled Ax story - a look into perfection vs good enough. I suspect that you will prefer the speckled ax in the end...
"...like the man who, in buying an ax of a smith, my neighbour, desired to have the whole of its surface as bright as the edge. The smith consented to grind it bright for him if he would turn the wheel; he turn'd, while the smith press'd the broad face of the ax hard and heavily on the stone, which made the turning of it very fatiguing. The man came every now and then from the wheel to see how the work went on, and at length would take his ax as it was, without farther grinding. "No," said the smith, "turn on, turn on; we shall have it bright by-and-by; as yet, it is only speckled." "Yes," said the man, "but I think I like a speckled ax best."
PS - looks like a candidate for the wire wheel to me.
