joe: The price you mention is reasonable for a Colt Police Positive in average well-worn condition. My wife has one of these, nickled with MOP grips that was her uncle's NYPD plain-clothes carry gun, back in the '50's. Note that parts for these guns will be in short supply, and the gun's peculiar leaf mainspring is the 'weak link' in the parts chain: a tired spring makes the whole gun sluggish. Proper ammo for your Police Positive is .38 S&W. slabsides
An armed man is a citizen; an unarmed man is a subject; a disarmed man is a slave.