It's a gold bullion coin issued by South Africa, similar to the American Eagle or Canadian Maple Leaf coins. They're sold for their gold content, not for spending.
The Krugerrand coin was minted in 1967 making the earliest coins about 44 years old.
what is value of a south African 1978 fine gold Krugerrand coin
Krugerrand
Yes, there are most definitely fake krugerrands in circulation. The best way to verify a fake or real krugerrand is to go to a reputable coin dealer. You can also do some measurements of the coin, a real 1 oz. krugerrand will weigh 33.930g. its diameter will be 32.77mm, and its thickness will be 2.84mm.
Online coin retailers like APMEX and Monex carry gold Krugerrand. CMI Gold and Silver Inc. also sells gold Krugerrand, but it can only be purchased via telephone order.
Krugerrand - South African gold coin
A standard Krugerrand coin contains exactly 1 troy ounce of gold.
16.718 gm = 0.537496oz (troy)
Even if Krugerrand value is closely linked to the value of gold, Krugerrands are worth more as coins, since they are sold with a premium (3% and more) over the gold price. Specially proof Krugerrand coins that have a collector value are worth much more than the gold they are made of. Older bullion Krugerrands may also increase in their collector value.
A full Krugerrand weighs 33.93g and contains one Troy Ounce of pure gold (31.1g). To make the coin more hardwearing, the gold is alloyed with copper, making it 91.67% pure.
The correct spelling is the proper noun Krugerrand, a South African gold bullion coin.
Nothing, because there is no such thing as a 1962 Krugerrand. The first Krugerrand was struck in 1967.