Values are based on the actual condition, finish, box, papers, accessories, whether any modifications have been done to it since it left the factory. It is basically impossible to put a value on any firearm with just the model and date made provided as all information. You could be in the 50-500 USD or more range. .
1916
If the piece is a : "Colt Model 1903, hammerless, 32acp" Then the serial # 221838 was produced in the year 1916. This is according to "Colt's dates of manufacture" by R.L. Wilson.
1919.
Your colt model 1903 hammerless 32cal was made in 1916.
about 1916....................
The date of manufacture of Colt 1903 Hammerless .32 is 1916.(193000-234999)
1903
Made in 1916, if 1903 hammerless .32
.380 1903
value depends on overall condition.................
100-1000 USD
If you are looking for age, a Colt 1903 hammerless .32 with that serial number was made in 1916.