It is known that if a plane graph is graceful (resp. near-graceful), then its semidual is conservative (resp. near-conservative). In this work we prove that the semidual of a plane graph of size $M$ consisting of two nested cycles is conservative if $M \equiv 0,3 \pmod 4$, and near-conservative otherwise. We also show that for a given integer $m_1 \geq 3$, there exists $m^* > m_1$ such that for $m_2 \geq m^*$, if $m_1+m_2 \equiv 0,3 \pmod 4$ (resp. $m_1+m_2 \equiv 1,2 \pmod 4$), then there exists a graceful (resp. near-graceful) plane graph consisting of two nested cycles with sizes $m_1$ and $m_2$, respectively.