Hi Rick!!Almost no doubt that this is a broken spearhead. The only doubt would be the age of it. Probably Bronze Age... Here is an example (Chinese spearhead though) to illustrate the hypothesis : View attachment 957316 Great find !
I know nothing about spears, but I know wood strength.
How thick were the handles of those old spears? Would they taper down to such a small point to fit into that hollow and still remain strong?
Cool find!
I also thought it was part of a broken toy. What is it made out of? It looks like diecast to me.