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I believe the block capital P is a proof mark, showing that the barrel has been test fired. I'm not 100% sure, but I remember reading that somewhere. I don't collect, just shoot them.
All US GI barrels will have various dates & drawing numbers stamped on them as do the Italian and Danish military barrels. Tough to say what you have there, but a "P" mark is normally associated with proof testing/acceptance standard. Is it a 4 groove barrel? Is the gas port area chrome plated?