Well I checked it, and it works perfectly fine. The fist shows up when I have no weapon equipped, and it's not there when I have my weapons equipped. Since I'm new to coding, I'm guessing that the first fill_rect line sets up the position where the graphic will be drawn. Then the blt actually draws the graphic.
For drawing the actual weapon sprite, I'm using the weapon icon graphic, and drawing it if the weapon is equipped. If there's no weapon, the fist graphic is drawn. I'm then using the fist graphic as a reference to place the spell and item hotkey graphics, since it should be located in the same spot always whether or not it's actually drawn.