The truncheon has stat values indicative of being dropped pre-factions, sometimes this additional "layer" of prenerf-y-ness can add some extra value to an item, tbd though. As said above, the broadsword is the best of the bunch, though still (very rarely) obtainable.
You might want to look over the info in all of these threads: Prenerf
(Many items you might not think of as valuable could in fact be. Whites, blues, purples, golds, greens, and not necessarily only inclusive of weapons). Good luck