I suggest you make your own mallet.. make several and several sized ones, f or different jobs. Make them with differnt woods... hard, medium-hard and soft wood mallets. Historically, hickory root stock is best for mallets.
You want to use a softer (wood) mallet, than what your chisel handle is mad e of, hence the reason for different woods for several mallets. You want y our (more disposable) mallet to break or disfigure, rather than your chisel handle.
You DON'T want to use a mallet on your paring chisels. Their sharpness sho uld be maintained to the degree for use with hand-held force, ONLY. Essent ially, a paring chisel is for CARVING straight cuts. When you can, get 4 sizes. You can use only 1/8" of your 3/4" chisel, to cut 1/8". You don't have to use the whole width of the blade to make a cut. I most often use 1 /4" and 3/8". I often use the 1" to (vertically) score a cut line, prior t o sawing or further chiseling with a more narrow chisel. Again, no mallet use on your paring chisels.
As John McCoy, I don't have a 1/8" paring chisel. If I have to cut somethi ng that small, I'd use a carving chisel.
You want a chisel for hammering on, get a firmer chisel, a mortise chisel o r a set of "disposable" chisels, like the cheaper sets at Lowes, Home Depot , etc. If you have some time, search the garage sales for some old, bette r metal chisels, than what is available today. I'm always on the lookout for those older chisels.... *And rusty doesn't always mean olde, olde-time y.
For your paring chisels, buy what you can afford. If you have big dollars, look for Marples, Ward and/or Sheffield, preferably original hand-made She ffield. Don't be fooled by chisels "Made in Sheffield" (the town). You w ant the chisels made by Sheffield (the man).... they are marked appropriate ly with Sheffield's mark and the handles are of a particular (recognizable) design/turning. If you shop Ebay, look closely at the pics, to make sure of what you are getting. Ask for more close-up pics, if need be. If the s eller is reluctant to provide more pics or info, steer away from them. Po ssibly, your best bet for genuine Sheffield is from the UK, and that may no t be such an over priced buy, though they are more expensive than most othe rs.
One last bit of advice: Maybe keep your paring chisels separate from other s. Make some leather sleeves (fingers from old leather gloves?) for the bl ades, to protect the edges. You could make a "jacket" that rolls up, like many folks do for/with their sets of carving chisels. I think Mary May use d old blue jeans fabric, to make her carving chisels jacket/tote. Roy Unde rhill has a similar one, for his.
Sonny