The PPK is a post war Ulm manufactured pistol (actually made by ManuRhin in France, and finished / proofed by Walther in Ulm.
It would be in 9mm Kurz (.380 ACP) caliber.
Probably sold in Germany and brought into the country. If it's marked "Made in W. Germany" on the frame, it was brought in after about 1965.
The Nitro Proof (Eagle/N) indicates it was made for sale and use in Europe. These were imported into the USA from 1955 to 1968 when the US stopped them from importing to the USA because they are smaller than the new import laws required. After that they were made in the USA for Walther/Interarms.
Serial number 123161A (that's the full serial number, the "A" suffix indicates 9mm kurz).
There should be an E/N followed by a number followed by an Antler proof symbol on the barrel visible in the ejection port. That number would reflect the year it was proofed at the Ulm proof house.
These are nice PPK pistols, and not commonly seen in the USA since Ranger manufactured the ones for the USA market after 1968. I don't think it's worth the money being asked....
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 Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.
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