I have a very similar set that is definitely antique. It is a Chinese chain whip, usually about the length from the center of the chest to the hand. Modern ones are usually about double that length or longer.
That said, mine has a differently constructed chain with swiveling links that are riveted closed. I also would like to know what the chain whip is made from, mine is all steel but this one looks like brass. However, that just might be the photo. The weights look almost exactly like mine and two other sets I have seen for sale, one from a reputable dealer that was expensive. I have also seen a set from a dubious dealer with genuine weights and a replacement chain. From the same dealer I saw one that was all genuine but the chain had been shortened. So the chain may be questionable but the weights are almost definitely genuine. They come from a recognizable type that is not common but that does come up fairly often and shows no signs of being counterfeited. If you got them for =<$100 you got a good deal.
Be careful practicing with them, they are deadly and the chain might not hold.
Josh
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