TEJON, Pin pointing is spot on, Cons= I honestly do not have one, pros= dual discriminators, adjusting sound pitch, all metal, deep, light, and the list goes on. I had sold a tejon a couple of years ago and it was the only detector I regretted ever selling and have since bought another one. I just love this detector and it is great for coin shooting and really excells at relic hunting. The manual ground balance takes a little practice as well as the single tone, but with a little practice the ground balance is a piece of cake and the single tone has a language all it's own and once learned is quite amazing. This is a very capable detector that is light weight and a lifetime guarentee.
Sovereign is a good detector, but I have a hard time with all of the tones of minelab, the weight is to much when relic hunting. Pros are that Minelabs like silver.
These are just my opinions from owning the detectors as they are both great, but I myself am a Tejon fan for sure.