As someone with less than perfect vision myself I can tell you that peep sights are a BIG HELP! ! ! !
To get the best out of them it's better to have a smaller hole back close to your eye than a bigger hole up where the original front sight is like Tinner did. Doing it that way is still a gain over the open notch. But it isn't as effective as having the hole back closer to your eye. That's where the Skinner, or similar, works out well.
The traditional option is to fit the rifle with a tang mounted Lyman or Marbles base and staff. No one will tell you that it isn't period correct. But they can tend to get in the way and require a little more care to avoid snagging and wiping them off the gun. They ain't cheap though. A base and staff from Marbles will cost you as much as a pretty nice Nikon scope.
If you want to try a peep sight out before you leap there is a way. You can either use some of the pipe strapping or make your own trial peep sight from some thin metal. Drill a clean 2mm or 3/32" hole through the metal and bend then tape it to the gun so the hole is where the Skinner sight would be. Or make it longer and tape it to the tang of the rifle. Shoulder the rifle and see for yourself if the peep sight gives you a better sighting picture. If you like what you see then peep sights will keep the scopes at bay for at least a couple of more years.
An option to the somewhat cleaner looking but expensive Marbles might be this shorter version of the Soule style vernier peep sight. With a 3 inch staff it'll fit the Henry and give you enough rise to reach out for some 200 yard fun. US price on the Marbles from Brownells to fit your gun is $130. The Creedmore link below is $75. So after shipping and exchange you won't save much over the cost of a scope. But it'll allow you to keep the gun a little more stock and to use sights that are a whole different sort of experience.
https://www.trackofthewolf.com/Categories/PartDetail.aspx/883/1/RS-CREED-3-E
If your recycled tin can peep test doesn't work out for you then something to consider is the often smaller and less expensive fixed 4x scopes. Lever guns tend to be slim and lighter than a fair number of bolt action cousins. A more compact scope tends to reduce this more than a longer zoom ability scope.
Another thought if you want to have some fun but which would cost you a little more is to look into some flavor of "Malcolm scope". The originals were used back in the American Cival War so this style of scope is certainly not going to look out of place on a lever gun. They aren't cheap though. But the class, smiles and plain ol' jaw dropping such a scope would give you at the range would be worth the cost....
, I scoped it without hesitation. 
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