Movieman 630, aka Grandpa's gun parts, had an original PC rifle front barrel-band, but, it sold. (I used his picture of the band on one of my responses).

A nice Krag model 1902 carbine sight, like yours, should be worth about $200 to $250. However, it is a slow seller. It looks great on your Krag and should stay there - IMHO. It has likely been on your Krag for a long, long, time. It is a correct sight possibility for a School Rifle.

If I owned your very nice Krag, I would alter your current front-band by either stretching or grinding the interior of the top part, so that it fits the barrel contour. I would repair the cracks and build up the forearm tip with a mix of bedding epoxy and walnut wood dust. I would refit the now altered barrel-band for a good appearance, making sure it accepts a bayonet.

I would enjoy and describe this 'School Rifle' as a "restoration", that contains a high percentage of correct parts. The stock may be correct, but, repaired. The front barrel-band is an altered rifle band.

A real 'School Rifle' used a shortened and plugged Rifle Stock. The Stock Tip area was reshaped to accept a rifle front barrel-band. The top part of that barrel-band had been stretched to accept a larger barrel diameter. When it was all assembled, it looked a lot like the same area on a standard rifle.

Since a lot of skilled craftsmen could duplicate this look, it makes positively identifying this Krag variant, problematic.