The most like ly reason, which is what happened to mine, there is a small gear in the transmission that causes this problem and usually becomes a problem after any work has been done there. It is a cheap fix and your local police station can let you know of the best place to go.
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Have the road wheels or tyres been changed from the original manufacturer's specification? If they have been changed for larger (or smaller) diameter wheels this would necessarily alter the vehicle's speedo veracity! This seems the most likely cause of errors in speedo readings. If this is NOT the case, then it sounds like a speedo fault. Best of luck!
on a car that old the speedo is most likely mechanical. there is a long cable in a jacket coming out of the end of the transmission which goes into the back of the speedometer. jack the car up and find and unscrew that cable. if it is broken buy a new one at a dealer or parts store. if it is not broken find an old transmission man and find out if there is a replaceable speedo drive gear in the transmission. if not you may be looking around for someone to fix that old speedo. google it i am sure there is someone out there willing to take your money.
This is an electronic speedo, could be several things but probably 1st and easiest thing to try is repalceing the vehicle speed sensor(vss). Also need to know if check engine light is on, and if any other electrical items are malfunctioning.
unhook speedometer cable from transmission and spin cable by hand it should turn smoothly if it des hook end to a low sped drill and see if it holds at a steady speed if it does the the problem is in the plastic speedo gear in the trans if it dos not remove the dash and inspect the connection on the speedo head