Crossfit Dad:  Welcome to the KCA Forum.  Your Krag, #128,362, was built around September of 1898.  It is known that Krags were not built in numerical order.  The numbered receivers were put in parts bins and randomly taken out during manufacture.  As first issued, your rifle would have had the Model 1896 rear sight.  This was likely changed later to a Model 1901 or Model 1902 rear sight.  These three sights each have their own type of hand-guard.  If you post some pictures of your Krag, you will get more specific and useful guidance.

Crossfit Dad:  Your removeable front sight blade may be a clue as to the rear sight that was last on your Krag.  The Model 1896 sight uses a blade that measures .286".  The Model 1901 and 1902 rear sights use a blade that is .413" in height.  M-1896 rear sights often seem to sell for around $45.  M-1901 and M-1902 rear sights go for around $70.
  Your Krag seems to be lacking a hand-guard.  Whatever sight you decide on will dictate the model hand-guard you will have to get.  (Repro hand-guards cost around $65 and an original off of ebay will cost around $100).
  Each model of rear sight also requires a different set of rear sight screws.
  You may want to contact one of the Gentlemen, who are listed in the KCA Classifieds, and inquire about obtaining a 'package':  matching sight, hand-guard, and screws.  They might cut you a deal.
  I would suggest you buy Poyer's book, "The American Krag Rifle and Carbine", for around $20.  It is not faultless. But, it is interesting, convenient, and informative.

Here's a side shot of the front site.. Any ideas what rear site would be correct? Also i am really not sure  exactly what the hand guard is or looks like so i will have to do some research on that also. The loading gate I had pulled open for the pic I posted so I believe  it operates properly. I would like to take it to my local gun shop to have them clean up the bolt action hardware, loading gate operation and clean the barrel inside. Anything I should know, ask or beware of before doing this? Thanks to everyone who has replied. Your knowledge is priceless!

I wonder what is going on at pic 059? The upper band assembly should fit the barrel snugly, and, there seems to be a "extra layer" of metal at the lower strap???? Something is not right there.

Crossfit Dad:  Your Krag appears very rusty and pitted in your photos.  There seems to be stock damage and the stock barrel groove and barrel do not fit properly.
  I wonder if this was a theatre "prop" gun.  The barrel looks like several pieces put together.  You really need an experienced 'gun' person to examine it in person.  (It may be in 'relic' condition and not for shooting).
  Your Krag is missing its front sight blade and pin, rear sight and screws, and appropriate hand-guard.
(photos attached to show those features on a Krag).

Dick Hosmer wrote on Jul 30^th, 2014 at 4:13am:

Actually that would be very old black electrical type tape. My father put it under the 2 sling bands as the were a little loose. Little history-- about 60 years ago my father found this rifle in the Potomac river while fishing with his friends. He thinks it may have come from a an old gun shop on the water front that burned down and fell into the river. I took the bolt lever off and the barrel is open. I do not believe it to be a prop, I thinks it's the real deal just in need of a lot of TLC. So can you buy an original stock to replace the old one as the butt has a rather large crack in the wood? Thanks for the pics butlersrangers!

Crossfit Dad:  Your Krag and its story suggests a regular feature we should have on the KCA Forum:  "The Krag Katch of the Day"!  It would be great fun.