Maybe a dumb question, but would a 70-80 year old be able to use cocaine without dying? If you're not using it often enough for it to be a problem, you also probably don't have much of a tolerance. I would think anyways.
Using a huge amount of cocaine could kill anyone, but a moderate amount can be tolerated by anyone without preexisting cardiovascular problems. That might rule out a lot of people 70+, but certainly not all. Like with most recreational drugs, most of the risks come with using large amounts or chronic use. Remember, these are substances used by tens of millions of people every year and have been for decades if not longer. They may not be FDA approved (well, some forms of cocaine are) but they are known quantities (well, minus the black market impurities).