Weaponry: clubs, historic — a bargain, we hear (4,5)
I believe the answer is:
cold steel
'weaponry' is the definition.
'clubs historic a bargain we hear' is the wordplay.
'clubs' becomes 'c' (abbreviation used in card games such as bridge).
'historic' becomes 'old'.
'a bargain' becomes 'steal' ('steal' can be a synonym of 'bargain').
'we hear' indicates a 'sounds like' (homophone) clue.
'steal' sounds like 'steel'.
'c'+'old'+'steel'='COLD STEEL'
(Other definitions for cold steel that I've seen before include "Cutting weapons" , "Swords, knives, etc" , "something offensively sharp" .)