It is sometimes referred to as a pick helve.
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Bronze pickaxe - 181 coins Iron pickaxe - 108 coins Steel pickaxe - 948 coins Mithril pickaxe - 478 coins Adamant pickaxe - 1468 coins Rune pickaxe - 18761 coins Dragon (m) - 16.3 Million Coins
The efficiency of a pickaxe in minecraft is the speed at which the pickaxe can mine materials.
No you can't you can only mine the obsidian with a diamond pickaxe.
No, you need at least a Stone pickaxe, to mine the Iron Ore.
The only way to receive obsidian when mining is using a diamond pickaxe.