Equipment in Fate is handled very differently than in other systems. Check the SRD to see the rules.
All ordinary weapons have W:1, and all ordinary armour has A:0. After landing a successful hit, you add the value of your weapon to the stress inflicted, and reduce the stress inflicted by the opponent's armour. Rolling a +4 against an opponent's roll of +2 with a standard weapon gives a 3-stress hit (2-stress from the roll, plus 1-stress from the ordinary weapon strength of W:1).
Given the tech level, typical medieval weapons are still widely used. However there are six-shot revolvers and lever action rifles available to those who can afford them. Gun control is regulated through high taxation, therefore only the rich are able to legally buy them.
You may spend 1 refresh to have one of your starting items enhanced with the following properties (not including Artifacts). The exact bonus and properties are open to discussion.
Artifacts: Relics from the Old Ages, these weapons are imbued with magic back when magic power was far greater. These items are priceless, and are not available to purchase or as starting items.
Cold Steel: The Fae's unique smithing process creates weapons which constantly draw in heat from their surroundings, sapping the heat from those they strike. They are ice cold to the touch. W:3.
Crimson Steel: Forged from an ore only found in the deepest mines of The Below, crimson weapons glow hot once drawn and cool as sheathed. Such metal resists rust, and burns through most standard materials, given time. W:3.
Cybernetics: The pinnacle of technology, cybernetics are available to anyone who can afford them. These grant extra powers to those who own them. W:2~3.
Dwarven Machinery: Be it airship guns, revolvers or cybernetics, its only perfect if its Dwarven made. Each mechanical component is precisely tuned and adjusted to allow for the smoothest possible performance possible. Dwarven guns are renowned for their increased accuracy, and never jamming. In addition, Dwarven equipment usually has extra features and gadgetry. W:2, A:2.
Elvish: Whilst not possessing any particularly special properties, Elven equipment is usually the highest quality available to the consumer market. As such, it is significantly more expensive than regular equipment. Elven equipment is slightly more durable than regular equipment. W:2, A:2.
Goblinforged: The best weapons you can buy are made by the Goblins. The forging process is an example of pseudo-magic, and takes much longer than normal weapons; A single blade can take several years to make. Goblinforged weapons are sharper than any other, never dull, never rust, and cannot be destroyed. Similarly, Goblinforged armour never rusts and cannot be destroyed. Any piece of Goblinforged equipment is virtually weightless. W:4.
Iridescent Steel: An experimental alloy used by the Elves during the Old Age. The exact components of the alloy are unknown. This metal is able to render the wielder near immune to psionic magic. W:2.
Mithril: Lighter and stronger than most other metals. the Dwarves signature ore is renowned for its insane durability. Anything made from mithril is virtually indestructible. The trade off is the price point; as far as ores from The Below go it is incredibly rare. W:1, A:3.
Oricalcum: An unusual ore found only on The Below. Oricalcum is well known for its resistance to physical magic. As such, it has long been favoured by members of The Witch-Hunter's Order. Oricalcum temporarily removes any magical ability from those it draws blood from. W:2.