Well one mystery has been solved. It seems that it is a police gun. Forum member RockinWr was kind enough to supply the following references:
John Walter's "The Luger Book", Pg.229: "P.K.=(b).....under V.f.d.P.40a-the Prussian Police college (Polizei-Schule) at Kiel."
Gortz/Bryans "German Small Arms Markings...", Pg.103: under V.f.d.P.40a, Annex 10 released in 1932 - PK=Kiel Police school.
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