IMO If you are only interested in coins and big jewelry, then there are a lot of better choices available. If you are interested the small pieces of gold jewelry that others miss, the Gold Bug 2 works well for this at tot lots but you must learn to listen to the signals which may not be easy for some. It can cover ground fast and has a good iron disc feature. I would not necessarily recommend it to beginners as it might discourage them since it does pick up really tiny stuff, mostly junk until you learn the audio response. I like using it but others don't so it is really a personal thing. If you don't like digging the smaller trash then don't buy it. I would not recommend it for turf hunting either. Whether it is overkill depends on who is using it and how they are using it. I can also use it to prospect for gold. It is not overkill for most of my style of hunting. To be clear, gold is my goal which is the Gold Bug 2's intended use. I look for gold in its natural and processed forms. Coins and silver are found as I go especially nickels, but they are not my goal or I would choose a different detector with characteristics that would improve my odds of finding coins and silver.
From some hunts a couple of weeks ago:
[video]http://www.youtube.com/watch?v=_xxjKtOe9tI[/video]