I have forged a battler ax from a cheap HF 3# cross peen hammer. I suppose you could forge a great big Viking ax from a 8# sledge or maul. Of course, this requires serious forging effort and/or a power hammer.
The alternative for a stock removal maker is to use 1/4" sheet stock and cut out the head shape. MIG/TIG/stick weld a piece of 1" black iron pipe to it for the poll/eye. A little clean-up with an angle grinder and some sanding will make the weld acceptable. Grind in a taper for the 2" to the edge. Heat with a torch or whatever you have that will get the edge to 1500F and edge quench in a couple gallons of oil. Make the handle from a new shovel shaft from Home Depot These are much heavier than a cheap shovel shaft). Add some leather grips and/or decorative paracord wraps to make the shaft more functional.
Other things that make it look good are making cut-outs in the cheeks in the shape of a four leaf clover/flowers, heats, runes, a moon, just circles, etc. You do this by drilling holes and filing/sawing the shapes.
The best finish is a sanded finish around 220 grit and a deep etch in FC. An alternative finish is to flame blue it. Another antique looking finish is the mustard finish.