Hi Anton:
Some time back I tried to find out how far back these decorative axes went. Best I could determine they were made mostly in the latter part of the 19th C into the first half of the 20th C, with the folding versions appearing in the early 20th C. Typically, the non-folding variety, like your example, has a wooden handle. Mahratt may well be correct that a wooden handle has been replaced on yours.
Ian.
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