'trudeman':  Welcome to the KCA forum.  You are lucky to have a Krag rifle that has been in your family for several generations.
  Your Krag is a Model 1898 Rifle that has been cut-down to a 24" barrel length from its original 30 inches.  The stock forearm was also shortened to make it handier for hunting.  Your rear sight is a model 1896  and your front sight may be a 1903 Springfield with the top part drifted way over to the left.  Krags were altered in great numbers to provide useful and inexpensive hunting rifles in the 1920s and 1930s.  Most of these 'sporters' were turned out by sporting goods dealers and gunsmiths, professional and amateur.
  These altered Krags are not worth much financially, ($250-$300), depending on salvage value of parts.  They are difficult to sell, because collectors want correct, as issued, Krags.  However, the altered ones have utility and play value.  If it belonged to your Grandpa, it is probably priceless to you.