That gun is what is called a Type III, the most common. Serial numbers were 105,051 - 468,096, manufactured from 1910 to 1926.
Quite a few of those guns turn up in very good to near-perfect condition, since they were often bought as "bureau drawer" guns and never fired. Value runs from around $200 to about $800+, with 10-12 percent extra for the original box and papers. Yours probably falls into the $500 range.
FYI, the Type I is the first type (1-71,999) with the barrel bushing and no magazine safety; barrel length is 4". Type II (72,000 - 105,050) is the same, but with a 3 3/4" barrel. Type III is what you have, with no bushing and no magazine safety.
Type IV (468097 - 572214) has a magazine safety; this type includes the much desired military style pistols, with the "U.S. Property" mark, which were bought for arming general officers, the OSS and other personnel who wanted or needed an unobtrusive pistol.
As to sell or keep, that gun is the most rugged and reliable .32 auto ever made, bar none. While it is single action, and its safety is less than optimal for a defense gun, it is still a fine gun for its size and caliber. One note: do NOT, repeat NOT, try to disassemble it beyond removal of slide and barrel for cleaning. It is NOT a 1911, and was NOT made for easy detail stripping in the field; reassembly has driven experienced gunsmiths to distraction.
Jim
Jim
