'Man-Goat' - Welcome! I am glad you inherited some of your Grandfather's guns.
Your model 1898 Krag, #127280, is in the serial number range for 1898 carbines, but, there are also plenty of rifles mixed in that range. Your serial number is not listed in the Springfield Research Services data.
Your front sight base looks pretty correct, but, there appear to be rough 'file marks' on the rear of the base, which makes me a bit suspicious. (Maybe someone just scored it with a file to break up light reflection)??
A clear picture of the muzzle 'crown' will tell a lot. Also, if your Krag has an original carbine front blade, there will be a small "C" on the blade's right side.
Most collectors desire the model 1898 carbine, as originally issued. This has a different stock, rear-sight, barrel-band, and hand-guard than yours.
(Model 1898 carbines were issued with a 'short forearm' stock, model 1896 carbine rear-sight, and a hand-guard that ended at the front of the rear-sight. The barrel-band had sight protecting 'ears' and there was a carbine 'sling-ring & bar' on the left stock 'wrist').
Your carbine was 'updated' to model 1899 carbine configuration - 'long forearm' stock, model 1901 carbine rear-sight, 'humped' 1899 protective hand-guard, which was introduced in late 1901, and no sling-ring & bar.
Your carbine is still quite desirable and was probably updated at Springfield Armory, but, its value is about the same as a model 1899 carbine.
Your Krag was built around September 1898.
The (stock marking) 'Acceptance Cartouche', contains the initials "J.S.A." (Joseph Sumner Adams). He was the Foreman of the shops at Springfield. This marking indicates an arm was accepted for service. The "Circled P" indicates an arm was 'proofed' and tested for function.
It is quite possible these markings were put on this stock when it was on a different carbine. Many Krags underwent multiple 'rebuilds' or were refurbished. The arms were taken apart and parts were mixed.
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