Welcome!

The safety ALSO looks like it has been buggered, and the receiver has been drilled for some sort of sight mounting. The rifle has basically been ruined, from any sort of collector standpoint. I have two suggestions:

(1) Buy a copy of the Poyer Krag book (   (You need to Login) For $20, it will answer 99% of your questions, AND save you from making any one of several HUGE mistakes (such as you posted).

(2) Study the Krags offered at   (You need to Login. usually seven pages of rifles for sale - which, after you read the book, you will understand MUCH better.

Good luck!