technically Q plates limit use. No inspection. No more renewal fees. You have to go to a MVC office to submit application.
"To be considered a historic vehicle, the vehicle must be at least 25 years old and only used for exhibition and educational purposes by the owner. Historic plates can be purchased for $44."
https://www.nj.gov/mvc/vehicles/historic.htm
You probably would not get collectors, from what others have said lots of hoops to jump through on that. Plus i think when its QQ eligible that option goes away.