Here is the deal. Anyone may own genuine antique firearms (not modern replicas) without a Firearms Licence, however those antiques must comply with the definition in the Arms Amendment Act 1992 (held solely as an antique, not designed for or capable of firing rimfire or centrefire ammunition), and they may not be taken from your dwelling except for specific purposes (gun show, gunsmith, Police station). They may not be fired unless they are rifles or shotguns and the owner has a Firearms Licence. Antique pistols may not be fired at all.
The risk of damage to genuine antiques by firing is quite real (and the consequent dramatic loss of value). I would recommend going to visit your local pistol club and experience the firing of the much stronger modern replica black powder pistols in a safe environment. That experience is both lawful and satisfying, and may influence your desire to continue with the sport. Wear old clothes as black powder shooting is a messy business!
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