Hi Emanuel,
I too have a few reservations on your sword
The handle seems to have a seam on the top and bottom edges......perhaps, the two halves were added to cover a badly corroded handle. Welding heat would certainly liquidise the resin....but if the sword was supported with the blade pointing straight up (whilst welding) ....resin loss may have been reduced. Alternatively the handle could have been warmed, the blade removed and then after more heating the resin drained from the cavity and re-used. The welding seems alittle 'over the top' ....a finer welded seam could have been achieved with a MIG welder. However, this may indicate that less refined welding equipment was used, which, could further mean that the welding occured a while ago.
http://www.arcwelding.info/historyofarcwelding.html
Like Lew, I also feel that the spike has been cut, the edges are burred over and the end surface doe not look 'right'. I believe that on a number of this type of hilted sword the tang is attached to the pommel/pommel spike. I am wondering, if this is the case with this sword whether the spike was cut down, a hole drilled through it from the end (think pipe) the tang located into the hole and then welded to secure it. Once the weld is cleaned up/ground back it would be difficult to see the repair.
But, it is also possible that a change of blade would affect the dynamics of the sword and the removal of the spike was to aid function.
Whatever the outcome, it is a nice looking piece ....which could have been 'altered' some time ago.
Kind Regards David