@Justin.44 has provided excellent information. Good posts!
@Virtuoso87 , I don't know how familiar you are with blackpowder revolvers. If you have not taken one apart before, I would recommend David T.T. Smith's book,
The Civil War Reenactor's Blackpowder Guide. This is a manual that provides very clear instructions for disassembly, cleaning, and reassembly of a variety of Civil War era firearms. There is also a chart in it showing the correct nipples for most of the reproductions you are likely to encounter. He has some information about shooting blanks but nothing about live fire. Another book you may find even more useful is
Percussion Pistols and Revolvers, by Johnny Bates and Mike Cumpston. They have a whole chapter devoted to shooting and managing the M1860 Colt, and another chapter on disassembly.
I really like the revolver you have. It is a reproduction, but it has acquired an honest patina over its 40+ years of existence and it looks like a real old-timer. Once you get it fixed up, it ought to be a good shooter, too. The original 1860 Colt saw service all through the Civil War and on into the Indian Wars of the 1870's. From what I've been reading about that period, the soldiers in the west generally preferred the Colt 1860 above all other percussion revolvers. After the Civil War, a lot of them were gathered up and refurbished in the arsenals. Much like the later M1873 "Artillery" revolvers, the refurbished 1860's frequently had parts with mixed serial numbers, and the barrels were slightly shortened. My point is that this model of revolver was so well regarded that the Ordnance Department took pains to keep them running. It was a real favorite on the frontier, and I'm sure you'll enjoy owning and shooting your reproduction.
Notchy Bob