There are differences in some of the air hammer bits. I have some left from an older air hammer and they are a bit thicker than the one I have now. The shank going into the gun is the same size so I can still use them but I have to leave the spring off.
Do you have access to a big vice or a shop press? Might be able to press it out.  Grind a V in a piece of pipe or an old socket to put on the back side of the shaft and give the pin a place to go. Put the works in the vice, keep it square to the jaws and tighten the crap out of it. An extra set of hands will be a big help.
If it still doesn't move, with the vice still tight, take a SLEDGEto the front jaw of the vice with a SOLID wack. Note, do this at your own risk of breaking your vice, if it's a good one it should be able to take it.
If that still doesn't work find someone with a torch to heat the shaft. Try NOT to heat the pin, just heat the shaft as fast as possible so it expands before the pin and give it a good wack.
Being able to take a full swing with a sledge is a great skill to have. Lightly tapping on it won't do a lot if it's really seized.
Good luck!
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I like to keep em running and work them.
1872 (I call her Vera), 782D, 154 Loboy (w/tiller, 3260 deck, and front blade), 3-1650s, 2-1000s, 149, 147, 106, 1810, Farmall Cub, Haban sickle bar (not mounted), No. 2 trailer and several parts tractors.
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