Welcome to the forums, and congratulations on your purchase of an excellent X-Terra 550. The main difference between the different frequencies is their sensitivity to conductive, and non-conductive targets. The lower frequency tends to be more sensitive to the larger, and higher conductive targets (silver for example), while the high frequency tends to be more sensitive to the smaller, and lower conductive targets (gold for example). The medium frequency is kind of an all-around frequency. All of them will find both types of targets. If you are referring to the 10.5" coil as being the large coil, most users opt for the 7.5kHz coil over the 18.75kHz coil. There isn't a "large" coil in the 3kHz frequency from Minelab. Which frequency coil to buy/use comes down to the type of targets you seek. Be sure to download Randy's book on the X-Terra's as it will explain things much better, and will get you up to speed the fastest.
I hope this is both accurate, and helpful. Good luck with you new detector, and may you find much...