It is possible and commone to be hunting in all metal, get a target, switch to disc (set just above iron) and no longer get a signal. That scenario happens all the time and its usually a small piece of iron or foil or maybe a hot rock that triggered your machine in all metal mode. If you then turn your disc all the way down and get a signal, it could be a coin on edge or tilted, or masked by another target. Its very difficult to say as different machine act differently and different soil conditions could also affect a mahcines opperation. Gold coins also can read very low on the scale, espcially the small ones, and if on edge they nearly impossible to detect.
Did you have such an event happen to you? If so, what was the machine and what did you find?