Golden Pickaxes take forever to break iron/gold ore.

I was experimenting with different Pickaxes and noticed that with a golden pickaxe it takes forever to mine iron ore. I later did an experiment with other Pickaxes and found it is only slightly quicker mining gold than a wooden pickaxe. And only slightly slower than a stone pickaxe on iron. Also, when I attempted to mine the gold, I did not receive the block.