Hard bullets and old rifles are generally not a good mix. Barrel separation, overstressed rifling, and even bursts can occur, although thankfully it doesn't happen frequently. "Hard" should certainly include steel-jacketed solids as well. I know of one vintage .450 NE that burst its barrels in rather spectacular fashion after being fired with modern US-made .450 NE factory ammo loaded with steel-jacketed solids. The same thing has happened with old bolt-actions, although it is much less of a risk here due to the fact that bolters generally have thicker barrels.
Rifles with older-style rifling (Metford, Oval-Bore, etc) are more susceptible to damage as well. Graeme Wright explains the whole phenomenon very well in his book and has a whole chapter devoted to the subject.
The driving band mono has gone some way to alleviating the problem. The Woodleigh Hydro is a good example of this. I know the designer and manufacturer of the bullet very well and he went to great pains to ensure that they are safe in older barrels. As I don't have much experience with mono bullets from other manufacturers, I cannot speak for them.
This is an example of overstressed rifling in an older rifle. Unfortunately I don't have any more details.
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