In Elden Ring, Arsenal Charm is one of the many talismans you can find to boost your stats. This particular talisman will increase your equip load stat which determines your mobility based on your total weight.
Having a high equip load stat allows you to be more nimble on your feet. This will help you dodge, roll, and evade enemy attacks. If your equip load stat is low, equipping heavy armor, talismans, and armaments will make you a dead weight. You do not want that in Elden Ring.
There are two versions of the Arsenal Charm in the game. The regular and weaker version and a stronger Arsenal Charm +1. Here is how to get both Arsenal Charm and its +1 version in Elden Ring.
Arsenal Charm location in Elden Ring
Once you have unlocked the Roundtable Hold in Elden Ring, you can speak with Nepheli Loux in the library to get the Arsenal Charm talisman. However, it is not that straightforward.
You need to do a few tasks for Nepheli in the right order or else lose your chance to get the Arsenal Charm in your playthrough.
You can unlock Roundtable Hold as a fast-travel-only location in the southwestern part of the map by defeating Margit, the Fell Omen, and then speaking with Melina at any Site of Grace. However, that is only one part of getting the talisman.
You need to talk to Nepheli Loux BEFORE defeating Godrick, the Grafted. To find her, start from the Secluded Cell Site of Grace and head out of the cell. Proceed Southwest and run past all enemies until you reach an area with barrels. There will be a way leading into and down into a building where you will find Nepheli.
Talk to her until she agrees to help you in fighting Godrick. Make your way back to the Site of Grace and go towards the golden fog door in Stormveil Castle. You will find her summoning sight outside the door to summon her. Do that and fight Godrick.
Nepheli will move to the Roundtable Hold after Godrick has been defeated. You can speak with her in the library over there to get the Arsenal Charm talisman.
Where to find Arsenal Charm +1 in Elden Ring
The Arsenal Charm +1 is the next version you can find for the talisman to increase your equip load stat by 17 percent in total.
Once you have the basic version from Nepheli Loux, head to Altus Tunnel south of the Minor Erdtree. Take the left tunnel and keep going until you see the Glintstone Miners.
From here, look for a way to go deeper on the right and go inside until you reach a drop with a thick tree branch going up. Drop onto this and follow it going up to a balcony where you will see a corpse at the edge. The Arsenal Charm +1 variant will be on it.
Arsenal Charm effects and stats
As mentioned before, both versions of the Arsenal Charm increase your equipment load allowing you to equip heavier items. The only difference between them is the threshold by which they increase the Equip Load capacity
The regular Arsenal Charm increases your equip load by 15%. While the Arsenal Charm +1 increases your equip load by 17%. Both items have a weight of 1.5. The regular Arsenal Charm can be sold for 100 runes while the upgraded version will sell for 500 runes.