Iron Pickaxe has the Texture of a Stone Pickaxe

When I obtained an Iron Pickaxe item, it had the coloring of a Stone Pickaxe. Closing and reloading the game did not change the issue.

Steps: Obtain an Iron Pickaxe item.
Expected result: The item has the texture of the Iron Pickaxe.
Actual result: The item’s coloring appears gray, alike a Stone Pickaxe.