There has been some talk of fake Krugerrand, but apart from these rumors not being substantiated, it is highly unlikely that Krugerrands will be forged, because the value of a Bullion Krugerrand is so close to its intrinsic gold value.
If any other metal such as lead were used, and plated with gold, it would weigh only about 20 grams as against the weight of 33 grams for 22 carat gold.
If the forgery were to be the correct weight, it would be seventy percent thicker than normal.
But a Proof Krugerrand forgery has made its appearance. The 1968 plain bust (single frost) has been buffed or scratched so as to appear dual frost. This is easy to distinguish but the unwary customer could be fooled. In the 1976 April S.A.G.C.E. Tender the single frosted Proof Krugerrand went for R475.00 (South African Rand) and the double frosted went for R3400.00. The price of gold was R141.00 per ounce in April 1976.
Always buy coins from a knowledgeable dealer.