dsurcy,
What happens is that the audio on the explorer is much faster responding than the screen, the position of the target crosshairs stays where it was for the last target and does not move again until you get the threshold back. If you are hunting in heavy trash/and or have the sens cranked you will often be presenting the detector several targets per second and the screen tends to lag behind. You might have heard people describe the minelab "wiggle"; with this technique you circle the target and move the coil over the target in short rapid strokes, while listening to the sound and seeing how the target icon bounces around. And it will bounce.
This is where experience comes to play. Generally iron can make the high coin sound even in ferrous, but it will not do it every sweep or even most sweeps, it also tends to be a bit more difficult to locate the exact spot, tends to move around some, and will be a shorter narrower signal. Iron also tends to bounce from extreme upper left to far right a bit lower on the screen.
Unfortunately deep coins can also cause the cursor to bounce, sometimes even to the extreme left, and coins next to iron are notoriously tricky, they may sound good and register in the right location from only one small angle, much like iron does.
Judging which ones to dig is pretty much a gut feeling. A good sounding signal gets my attention and then I swing over the target many times while watching the cursor, if it bounces in a pleasing manner it will get dug.
The fact the that each sweep over the target can generate a different response is what dooms trying to use exacting discrimination. Say it bounces into the coin area every one of three swings means that you will miss the target two out of three if you have other areas disc'ed out. Even though these other two swings might not sound like a classic coin sound they will generally sound different enough from iron to make you notice and further check out the location.
Chris