Earlier Colt Target grips themselves are worth hundreds of dollars.
If they're the First Type fully checkered grips, in excess of $300....AND UP.
A popular conversion for formal Target shooters was as a single action-only.
These could be special ordered from the factory, but most of them were altered by owners by simply removing the double action strut from the front of the hammer.
A genuine Colt factory conversion actually altered the hammer by machining.
The Officer's Models began in 1904 and was made until 1907. It was based on the old Colt New Army & Navy, first made in 1889.
In 1908 a totally new version was brought out based on the Colt Army Special.
It was made in various versions up until 1969.
In the days when the revolver was "King of the Matches" the Colt Officer's Models held all the records and were used by the top shooters.
When in good condition and proper adjustment, and when loaded with Mid-Range Match ammo an Officer's Model will shoot very close to the Python in accuracy, and will often equal it.
Before the Python arrived the Officer's Models were usually Colt's top of the line premium quality revolvers.
If you want to spend the money for a Colt Archive letter, the letter will tell you if yours is a factory conversion or after market.
Or you can simply cock the hammer and look at the front of the hammer to see if the lugs that hold a double action strut are there.
A genuine Colt factory conversion will up the value considerably.
If it's an after market conversion you can usually convert it back to full SA-DA by installing a double action strut, strut spring, and strut retaining pin.