In one aspect of the invention, a pick comprises a steel body comprising a formed shank attached to a first end of the body and generally extending along a central axis of the body. An impact tip is secured to a second end of the steel body and comprises a carbide substrate attached to the second end of the steel body which is bonded to a superhard material. A composite material is bonded to an outer surface of the steel body and adapted to protect the steel from wear. The composite material comprises a plurality of superhard particles held within a matrix. The matrix comprises a superhard particle concentration of 40 to 80 percent by volume.