Help please! What exactly do I have?

[MooseNugget]

Yes you are correct…the sight leaf should have a 19/20 mark

Definitely wonky but I was wondering if it’s a hybrid…incorrect slide/leaf but correct carbine rear sight base?

Is the muzzle flat or rounded?

BTW: you do have a very nice carbine!

[butlersrangers]

This Krag is the 'poster child' as to why U.S. model 1898 carbines are risky!

Serial number 124514 has some documented carbine serial numbers near it, but, also many rifle numbers.
In fact, next door, Krag #124515 is a documented model 1898 rifle, issued in 1898 to Co. I of the 12th N.Y. Vol. Infantry.

Most things about this Krag look believable, but, the rear-sight is obviously faked from a model 1896 rifle sight.
It also appears that the metal finish has been 'played with' at the muzzle and front-sight areas.
It also appears two holes have been filled near the serial number and the receiver refinished.

Such blemishes suggest a restored or replica carbine, (at the hands of someone who is knowledgeable), and this makes me suspicious of everything about this Krag.

Still, it is a nice looking "carbine" to enjoy for shooting and conversation!

[Knute1]

Can you post a full length photo of both sides and some of the stock forend? Maybe some more clues on the story of this Krag. If not an original carbine, at least it is a good representation of what one would look like.

[Jolson185]

I'll try.

[Jolson185]

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[Jolson185]

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[Jolson185]

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[butlersrangers]

Jolson185 - I believe you have a fake carbine put together by a skilled guy named "Ostberg".
It is a 'parts gun'. (It has a real carbine stock, barrel & barrel-band and a bogus rear-sight made by stamping "c"s on a rifle-sight.
The receiver has a serial number that is in a range shared with carbines. Receiver d&t holes have been filled and wood & metal were nicely refinished).

The markings on the wood, under the butt-plate, are not Springfield marks.
"OALW" stands for Ostberg Armory & Locomotive Works.
The other wood stampings, under the butt, are bizarre.

Dick Hosmer has written in the past about Mr. Ostberg and his remanufactured Krags and Lionel Trains.
I believe these Ostberg Armory & Locomotive Works "collectables" were not always accurately portrayed, when sold!

Dick once wrote, that the late-Bill Mook called these Ostberg reworked carbines, "Red Ryders". (It had to do with the reddish tint of the wood stain he used).

IMO - Mr. Ostberg recreated a pretty carbine. I hope the original buyer knew that it was not entirely correct and did not get overcharged.

[Jolson185]

I inherited it from my dad. He paid $400 for it. It's worth 4x that in parts at least.

[Jolson185]

I inherited it from my dad. He paid $400 for it. It's worth 4x that in parts at least. I've sourced a correct base and ladder for the sight. Might as well milk it for all I can.