Niner, if your sight picture looks like this (fuzzy black pumpkin sittin' on a fence post)
and the range is 130 yards with bullets striking about 9 inches high above the bullseye center, you need a front sight whose height is about .060" higher that the one you have. Then your rear sight should zero at 130 yards about 3 or so clicks up from bottom.
I don't have an M1 unaltered front sight so I don't know how high they should be. If someone does, please measure it then post its height in this thread.
Niner, remove your front sight and measure how high the top of the blade is from its bottom. Once we find out if yours has been filed down to a lower height, you might build it back up with plastic steel. Then you get to practice your skills with jewellers' files squaring up that epoxy and making your front sight look like nice and new.
On the other hand, maybe yours has been filed down and a new one will fix the problem.
If a new front sight doesn't solve the problem, then there's somthing a bit out of whack internal to the rifle. Bedding, bent parts, op rod fit, whatever. A 'smith could cut out the front sight blade then mill a slot for a new, hand made one that's high enough to be silver soldered in place. Then blackened. But that's gonna cost a bit to do.