Balato for comments.

[asomotif]

Originally Posted by Atlantia

Yeah, the crack runs all the way round. The hilt may have been in two parts at some point. There is a gap of about 2mm all the way round filled with some kind of brown wax.
Doesn't look like a tough fix though. It would look fine if it was re-done carefully and the crack was closed.

Yes, it will certainly be worth the effort closing the crack.
It will also give you the possibilty to clean and preserve the tang.