Uh yeah, I try not to be ebul.
Note that magic weapons and magic in general is somewhat devalued in 5th edition-the guide suggests that GM's don't need a basement of ye olde bargain magic shop full of arcane stuff for the players to shop in after a dungeon-it says magic equipment should be a challenge to earn (I.e, reward players with magic equipment, not just piles of coins) unique and interesting (i.e, cursed), and worth more than any price of gold you could pay. I agree with that notion.
Generally, +1 Weapons and Armor are the greatest a mundane can make-they are considered masterworks, and you can buy them for a kingly sum...if you're lucky.
Are you going a bit of a more high-fantasy element with lots of magic in this campaign, Dwarmin? Or will it (mostly) be 'wild' magic in the New World rather than stuff controlled by wizards and so forth?
Though more seriously, do you think you'll be doing the thing where Monks can get enchanted gloves/fistweapons
Magic is both more controlled and more uncontrolled. Magic is slowly losing power in Nepathica as the age of machines and technology rolls on, and people have learned ways to harness some magics on a wide scale-however, the New World is still mostly untainted and untamed, and tends to be more wild and unpredictable. So depending on which side you're dealing with, you'll find very different reactions.
Enchanting unarmed attacks would work differently than doing the same with weapons, but it would be possible-in your case, I think it would be more akin to learning rare martial arts, and ancient techniques that mimic the effects. You would have to go to some lengths to find these-suitable questing for monks!