What is this 1911-67 Model gun? Rarer model?

I got this in a bunch of military stuff I bought. I don't know much about it. But I researched there were a couple different ones made. I found a reference to the early ones where it says they were blued and of a higher quality. I believe this might be one, but I have no idea. Is this one of the rarer ones? It's heavy, just as heavy as a real 1911A1. And if you guys don't mind and it isn't against forum rules, how much is this worth? This is something I would sell. Thanks guys!

I got $200 for my RMI 1911 - same condition.

Pit.

Interestingly enough, I just came across what appears to be this identical model of MGC modelgun this past week.

My grandfather is in declining health, and my family has been helping him out - he's no longer able to go upstairs, and while we were organizing his things and bringing them downstairs to where he could have access to his belongings, and came across what they thought was an actual .45 M1911 in the shelf of his closet, next to boxes of actual ammunition.

I initially thought it was real too, based on the weight and appearance, but when I went to clear it to make sure it was safe, I noticed the strange plug in the barrel, the lack of rifling, the lack of a firing pin, etc... went online to figure out what it was, and that brought me to this forum. 

I'm wondering if my grandfather may have thought it was a real gun and just never attempted to fire it, or if he had a real one at some point and someone sneaky pulled a switcheroo...

Was surprised to find this was such a complex piece. 

I can't tell from the pictures above if that has it too, but the one in my possession has "JAPAN" stamped on the slide on the right side.  From some basic googling it appears mine is a 1978 model.  It has the magazine but no caps.  Right now I'm debating whether I want to keep it and try to get some caps for it, or let it go to a collector who would appreciate it.