i was able to afford banded mail by the time i was lvl 11. as far as weapons go you can buy a dwarven axe in kaladim for 7p its great for a low lvl char.
also a good piercer would be a shark tooth its 5/18 and can be had for a song.
a good option for weapons i would suggest doing what i did: go to ec tunnel, and say i have X money to spend looking to buy a weapon for X class; it may take an hour or two but eventually you will find something. never know till you ask.
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