If you want to get a golden or silver axe, warp to a stage with a mysterious pool of water. You can throw in armor or weapons for level up, or recieve a free golden or silver axe.

To get the axes, take any weapon or armor and throw it in the pool. A water drop monster will come out and ask you if you want a gold axe, a silver axe, or neither. Say, "Neither".

If the weapon or armor you throw in hasn't reached a certain level, the monster will upgrade it; however, if your weapon can't grow any more, you will get a free gold and silver axes as well as get your item back.

This trade works better if you throw in a silver or golden axe in the first place and tell him you lost neither. A great way to build up your gold/silver axe stockpile, sell it for money, repeat.