Start with a large black canvas, in your layers window make a new layer set. Name it Iron Spear.

Choose your pen tool, select paths and auto add/delete checked. In a new layer trace out the shape shown on the picture below using your pen tool. Once the shaped is drawn, fill path with color #2A1919.
Add the following layer styles:

Duplicate your shape layer from step one. Remove all the layer styles attached to the layer so the layer is flat colored.
Set the layers blending mode to Color Burn and set the opacity level to 81%.

Merge down your Spear layer set. Now duplicate your spear layer and rotate through edit > transform > rotate. For this duplicate we want the half spear to face straight to the left.

Now make a copy of the half spear and connect to form a full spear.

Choose your rounded rectangle tool and set the radius to 20 pixels. Create a new layer then draw a 257 x 5 pixels, #412828 rounded rectangle. Use the fixed size setting under rounded rectangle options to make the exact rounded rectangle.
Add the following layer styles:

Experiment with colors and take advantage of the Shapen filter.

Iron Spear.

Download PSD File