France W. Scholes and Dave Warren note that copper axes were used as both weapons among the Olmecs; axes made from gold were used as part of barter which continues with the Spanish.
France W. Scholes and Dave Warren, “The Olmec Region at Spanish Contact,” in Handbook of Middle American Indians, ed. Robert Wauchope, 16 vols. (Austin: University of Texas Press, 1965), 3:785
Reference has been made to copper axes as items of tribute paid by Indians of the Coatzacalcos province to their native lords. Sahagún (bk. 10, ch. 29) mentioned the use of copper axes by the Olmeca as a defensive weapon against wild animals. In this connection reference should also be made to accounts, recorded in the chronicles of the Grijalva expedition of 1518, of the barter carried on by the Spaniards at the Rio Tonala for similar artifacts which they believed were made of gold, but to their discomfiture found were only of copper (Díaz del Castillo, ch. 16; Wagner, 1942).