Only one Colt? only 3 colts? You guys gotta pick up the pace here! They're not growing on trees, you know. You gotta go out an pan for gold if you want to have it!
Anyways, yes I encountered this same question myself, and I deduced that they abbreviated "32 COLT NEW POLICE" to "32 POLICE". Although for me, I didn't care about firing the gun, I just loved it as a collectible.
The gun below is a scarce "32" (whatever Colt referred to the S&W caliber as), PP target G model from 1911. I remember when I bought it, the guy wasn't exactly hip to it being a target model, so I got for the right price. I remember thinking if only it was in 22lr, it would be perfect BUT when I got home with the gun I found out that the PP target in 32 is very scarce as most are 22lr or 22 WRF.
Here she is, 1911 vintage.