Appearance
The P230 and P232 are remarkably similar in appearance. They have similar dimensions in grip, slide, hammer, decocker location and trigger-guard shape. The rear sight on the P232 is adjustable. The slide serrations are fewer and wider than on the P230; the sights go from two-dot to three and the grips are of a modern, SIG-Sauer style. Some models offer Hogue-style grips. Others feature a SIG-Sauer plastic grip with an embedded emblem.
Internal Operation
Both the P230 and P232 are simple blowback, hammer-fired pistols with double-action triggers. Both have similar internal dimensions, though the P232 features an automated firing-pin-safety. This is the significant internal difference between the two guns. Both pistols are made with stainless steel or aluminum alloy frames; later models feature a slightly heavier frame with a polished steel finish. Both guns are designed for reliability and durability.
Caliber
The P230 was manufactured to fire 9-by-18 mm Police, 9 mm Browning Short and 7.65 mm ammunition. SIG-Sauer dropped the 9-by-18 mm Police cartridge because of its unpopularity. If purchasing a used P230, avoid the 9-by-18 mm Police variant. No factories -- as of 2011 -- manufacture ammunition for this pistol.
Considerations
The SIG-Sauer P230 and P232 displays an operative difference in the automated-pin assembly. For practical purchasing decisions, the P230 and P232 are essentially the same; both are reliable and durable designs. The P230 is the older version of the same design. Buying a used P230 requires careful examination of the weapon for normal wear.