Is this chip too bad? Vintage Collins

Here's the report. I filed the sharp edge completely flat, and then re-did the bevel and sharpened it. In the cleaning process the only marks I found on the head were 2 1/4 and the letter M. I since discovered that M probably means it was made in Mexico, so perhaps not a great find.
Nevertheless I sanded the handle a bit and applied boiled linseed oil. I'm perfectly happy with it.
My first axe project and I'm pleased with it.
collins4_zps2fyqsggq.jpg
 
For $3, it is a bargain! I don't know for sure the m is for Mexico, but even if so, I have a couple of trupers that work well and don't have to be babied. One is a wallhanger -- on the wall of the barn:). You got an idea firstl opportunity to restore a tool to working order, now take it out and use it!
 
A 1 X 30 belt sander/grinder would do a nice job profiling that bit, with the proper grit belt.

Tom
 
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