The first three digits are called the handle, and the the next three are called the tick. A tick is a 1/32, and + represents .5 of a tick, a 2 represents a .25 tick, and a 6 represents a .75 tick. So 103-12 is the bid in the market, meaning you can freely sell that price, can be decimalized to 103.375. The offer, 104-12+, what you can buy, can be decimalized as 104.390625. For either of those in that quote, you would pricing the bond at a premium since par is 100. Depending on where you got that quote the principal amount can vary. Its a minimum of $1000 (at par) and usually on the major dealer desks and otc exchanges trades in $1000000 lots. So the bid would cost you $1033.75 if it were a $1000 bond. What issue of the bond are you quoting, because that is a wide bid ask spread, treasuries are usually more liquid than that.
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