Old Colts like this early version are black powder only!
Elmer Keith in 1936 writing in his book Sixgun Cartridges and Loads, recommended the novice reloader start out with black powder; he basically said just fill the case, crunch the bullet down and shoot. Yes, loads can be assembled the way he says, however if you’re looking for accuracy with black powder it’s necessary to add several steps and follow some basic guidelines. In fact, loading black powder successfully requires more time and knowledge than using smokeless powder.
When loading smokeless powder I can get excellent results with commercial machine cast bullets of hard alloy matched up with a very hard lube, loaded over a proper charge, crimped and then fired. Quite often, loads thus assembled will shoot as good if not better then loads carefully assembled with home-cast bullets of the “proper” alloy and matching soft lube. But black powder needs more attention.