[Man-of-the-Wold]

If memory serves it was consumed by the heat of Sauron, like Gil-Galad.

The shaft was probably made of wood, reinforced with metal, and was the long kind of thrusting spear that one might use either standing or on horse, although it might have had more than just a sharp point at the end but also large barbs and blades.

Such a weopon is hard to imagine, but as part of disciplined attacking force with similar or complimentary weopons it could be quite devasting as the opponent would be harmed before getting too close. The scene at the start of the Film may be suggestive in that a row of warriors flash spear-like weopons in coordinated unison.

The danger is in more chaotic, hand-to-hand situations is that once a foe gets to close, the spear is at a disadvantage compared to a sword or short axe, which is why one might expect a spearman to have an auxilary weopon at easy grasp.

Still, I've always thought of the irony that with a spear Gil-Galad should be more able to avoid the proximity to Sauron that seems to have killed him first, before Earendil.

So, I might speculate that Sauron when he first issued on to the battlefield at the bitter end was at his "hottest" so to speak, and that Gil-Galad bore the brunt of is initial personal attack. This then gave Earendil the opportunity to fight him with Narsil, followed by Isildur's final blows with the shards thereof.