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@Mc_Nebula
Ok, my grub is dated to 1957 and has the frame number 14400. What is yours? The gears on mine were of the hanger type, rather than slot into the dropout, although someone (not me) filed off the hanger :(
Mine is plain guage 531 with Nervex lugs type type 86BIS (very similar, if not the same) as yours. However, your forks have more rake and it looks like your headtube is steeper than mine... It looks like your head angle is different to your seat tube... it would be 71/73. This points to the model being a Silver Star, only, the Silver Star was never offered in Blue... The silver star was also NOT 531, it was Accles and Pollock tubing.
Grubbs were only made with that headbadge between 1952 and 1963. I paid £100 for mine, frame only. However, it was in perfect nick (no paint though...) with no dents or corrosion and 531. I also have forged dropouts rather than stamped ones. I would tentatively suggest that your frame is in fact early 60's rather than late 50's. Not that it makes much difference...
If you can tell me your frame number, I might be able to give a more accurate date...