First I have good news on the threshold issue...tone ID updates instantly as you sweep and does not suffer the threshold related delay the cursor does on your screen. Thats good news because hunting in the iron is more about tone ID than the cursor location e.g. there is no reason to even worry about the threshold and cursor until the tone ID tells you a coin may be lurking.
Here's how I process what the machine is telling me...note When I say coin assume also button, ring, and virtually any round target.
1. Does it sound like a coin? 80%
2. Does it behave like a coin? 20%
If you are hunting in medium to heavy iron site conditions many people have the best luck running in iron mask mode and using ferrous tones. Iron sounds low, silver high, thats as simple as it gets. The ideal iron mask setting would be -16 e.g. zero descrimination but its not easy to start out being an iron mask -16 hunter on day one.
Therefore to ease into this type of hunting I recommend editing a smartfind screen to look like a iron mask screen at say -10 e.g. with the left side of the screen blacked out aprox the same amount iron mask -10 does. Then set your iron mask screen to -16 wide open. Now hunt using the smartfind screen and when you think you have an iffy target, switch to your iron mask screen and sweep it again from various angles. This is altogether a more pleasant way to get started hunting in iron mask mode verses jumping right into iron mask -16 and becoming overwhelmed by a thousand rusty nail signals.
Now when you do switch to iron mask -16 to double check iffy signals, take advantage of the learning opportunity. Note how much more robust the signals are with no descrimination. Note that it is generally easier to locate the nail or nails in relation to the coin. When nails are descriminated out they can really polute a wide area of ground with a null and the null is sticky, the Explorer doesn't like to let go of it. Nails will often cast a null out over the top of a coin along the length of the nail. Ask some iron mask hunters how often they find a nail laying flat and poking into the side of their hole after recovering a coin that gave an iffy signal.
Will I miss coins by descriminating out iron? Even when I have my iron mask set to -16 e.g. zero descrimination I routinely find coins that I would rate as below poor in signal quality. Its incredible just how bad some coins can sound in the iron. Yet as bad as they sound there is a fraction of the signal that peeks through and sounds like a coin and thats enough to get my attention. When I have increased the iron mask on these signals in testing, I found that they most often vanish altogether, nothing but a solid null. So clearly the answer is yes, you can miss coins if you descriminate out the iron.
The site then comes into play. If the site is loaded with coins and easy targets you might as well run some descrimination and pick off all the easy signals as a first step. You can then come back later running iron mask to gather up the ones hiding in the iron. But most sites where I live have already been detected to death for 20 years so I find that most of the good targets that are left, are those that have been hiding in the iron and trash. Therefore I never descriminate out the iron.
Good targets will often improve in quality in iron mask -16 now that the signal is not getting chopped up by the iron mask descrimination. Iron falsing on the other hand becomes more obviously iron. Pinpointing is improved because the null is not pulling the coin signals off center. I tell you I mangled many a coin with my digger before I switched to iron mask -16.
1. Does it sound like a coin?
Coins (and round targets) have a unique shape to the sound as you sweep them. If you drew the sound wave it would look like a mountain, rising up to a peak then down again in volume and to a degree in pitch also. Often they ring like a bycycle bell or sound fluty like several slightly different notes playing on a flute. Nails and junk on the other hand often sound flat and mono-toned. They also tend to pop at the end, especially rusty crowncaps. So with the Explorer its not just high tones or low tones, its the shape of the sound as you sweep the target.
2. Okay lets say you get a signal and it "sounds" like a coin. Next question, does it behave like a coin? This is a two part question.
2.a Does it behave like a coin when you sweep it from different directions? Coins tend to stay put once you get the coil centered over them when swept from different directions. Nails on the other hand frequently seem to move around on you. You think you are centered over the target, but when you sweep it from another direction it seems to move a few inches. Thats often the nail shooting a signal out sideways along its length. The exception to this rule is a coin very much on edge that can also shoot a signal out sideways. But the next step will often root them out.
2.b Check the cursor on the screen. The iffy signals will jump around on you, often left and right between iron and coin. But coins behave like a coin, they will often hang around their assigned area of the screen more than they jump left into the iron and when they do jump left to the iron area, they don't jump all the way to the very top left like a nail will. Nails on the other hand jump to but they are very consistent. They jump between the top/left corner to the right edge of the screen, about 1/4 inch down from the top, with half the cursor off the screen. About the only coin that will ID there is a silver half and generally silver halfs don't jump at all. Thats the rusty nail bounce pattern, dig a few to convince yourself, I do from time to time, enough to know its reliable. In "rare" cases a coin can camp out over in the iron zone of the screen and stay there. Some buttons and an assortment of odd finds will do the same. I once had a paper thin half reale do that. But they tend to hang out around the iron mask -14 to -12 area and they don't get up in the far top/left corner like a nail will do. I will generally dig a target that does that. Again its rare but I have found a number of indian heads and odd finds that way.
As someone else mentioned, after a while your brain starts to ignore the low iron tones, they fade into the background with the threshold hum and you hardly notice them. I personally had a difficult time trying to hunt in iron mask -16 at first but now I don't even notice them. If you ease into this over a few weeks gradually you can hunt with less and less iron mask. In fact once you become used to hunting with zero iron descriminated out you may get so used to the full robust signals zero descrimination provides that the chopped up descriminated signals become annoying and you won't like descriminating out the iron.
Well thats more than I have written in a while, I hope it helps.