Please help me identify this mace item and it's value(if any). I do not know much about it except that its handle is solid wood with tack-style embleshments in the handle. the chain and ball seem to made of iron. I don't know it's weight but its HEAVY. Any help would be appreciated. Thanks.

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It's a ball-and-chain, most likely a replica made som 20-30 years ago. If the ball is solid iron, it is quite impractical, and made for display purposes only. Value? Very hard to tell, but don't expect more than, say, 50 bucks.

I have to agree with Bjorn.

would'nt this be classified as a Flail instead of a Mace?

Morning Star repro.

Mace or morning star the weighted usually spiked or knobbed end is fixed on the end of the haft. On a flail the weighted end (this could be a spiked ball, a non spiked ball or even a dense hard wood with large nails run through (originally an agricultural implement) )is articulated on a chain somethimes only a single link(longer polearm types) so that the mass can be spun to generate greater force .