Jerry,
The serial range puts it to 1950. That number would put it in the Officers Model Special range, but it could well be one of the OMT 'parts clean up guns'.
Photos are in order. Is the barrel marked 'Officers Model Target'? With or without the words 'Heavy Barrel' below that?
The grips, if original, will have a mottled brown look with swirls of orange color sometimes. There will either be a molded in relief 'Rampant Colt' horse at the top of each grip, or more rarely a round medallion imbedded in each grip.
Hopefully you can post photos of the pistol. I collect Colts from the transition era 1947 - 1950 and would love to see it.
Many variations in this era. There are different barrel marking locations, cylinder release styles, types of finish, and backstraps that are checkered or grooved.
Without photos it is unfair to place a value. You can get an idea from looking at some on the auction sites and compare yours to them.
Do remember the prices you see are asking prices, not necessarily selling prices.
Without seeing the gun, 450 to 1200 are ballpark numbers.
Degree of finish GREATLY affects value. One with 98% or better will sell quickly for almost twice the cost of one with 90% of finish. The original box will add 100 or more to the value depending on its condition as well as make it that much more sell-able.
C'mon! Go find a camera.
JT