I just picked up a new Henry rifle in .45 colt. I have one question does this shoot the .45 colt pistol round or the .45 colt LC round?? thanks for any help.

.45 Colt pistol round is the same as the .45 LC round. The .45 ACP is a rimless round designed for the 1911 and should not be confused as the same round.

Technically there is no such thing as a .45 LC round but you will see it described as such.

Winchester has  Cowboy action load .45 Colt USA45CB that is a 250 grain lead flat nose. Will work well in your rifle. I picked up a couple of cases 2 years ago [600 rounds per case] for $12 per 50. They are not priced anywhere close to that anymore.

This is one caliber that reloading will save you TONS of money. I believe they sell for $17 to around $24 a box now.. Cases can be used over and over and over as long as you don't go nuts with the velocity. [You can load them up HOT for use in a Casull or a [OLDER ONLY!!!] Vanquero. [New ones are NOT as stout as far as I am concerned and any of the SAA Colts are verboten with hot loads]