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I am most likely miss reading something but there appears to be two different prices from a +1 masterwork weapon depending on if you read the PHB or the official guide concerning the price of a +1 weapon.
The PHB states "A masterwork weapon is a finely crafted version of a normal weapon. Wielding it provides a +1 enhancement bonus on attack rolls." So, using that a +1 masterwork longbow is 375 gp (300 mw + 75 for the weapon).
The Official Guide states "+1 weapons (2,000 gp + 300 for the masterwork weapon cost + item cost)" So, that would mean that the same longbow would cost 2375 gp.
Can someone tell me which is the right amount. Thanks.
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A +1 weapon is a magical weapon, and adds 1 to attack and damage. A masterwork weapon adds 1 to attacks rolls only. A magical weapon must also be masterwork, but a masterwork weapon does not need to be magical.
Edited for clarity.
Okay, let me make sure I understand you. For 375 gp, I get a non-magical masterwork longbow that gives me a +1 to attack.
If sometime in the future I want to add a +1 to the longbows damage it will cost 2000 gp.
A +1 weapon is a magical weapon, and adds 1 to attack and damage. A masterwork weapon adds 1 to attacks rolls only. A magical weapon must also be masterwork, but a masterwork weapon does not need to be magical.
Edited for clarity.
Okay, let me make sure I understand you. For 375 gp, I get a non-magical masterwork longbow that gives me a +1 to attack.
If sometime in the future I want to add a +1 to the longbows damage it will cost 2000 gp.
Yes, although that's an additional 2,000. All weapon enchantments must be added to masterwork weapons. So the total for the +1 longbow is 2,375.
Note that a magic weapon may also help overcome DR, which masterwork weapons do not.