First time posting here, but have been keeping an eye on the forum for some time.
Saw mike87's post and thought I could be of some help here as I have been doing some tests with Canadian coins. I have found that if you run single frequency 22.5kHz, the V3i seems to just see the cladding and show up as a positive VDI or a high negative -95 to -93. Both of the other frequencies read as iron and are much more erratic. I haven't had much chance to test this in the field yet, but it works on air tests. It also seems to be more stable on pure nickel coins ( pre-1982 nickels and 1968 to approximately 2001 quarters and dimes). These nickel coins tend to read fairly erratically. They also tend to change dominant frequency in pinpoint as the coil is moved around .
I generally hunt using Magic's program ( which is excellent, my silver finds have gone way up since I've been using it) and flip over to my "Steel Coin" program when I come across something that might be a steel coin. I'm still working on the program, but I'll post what I have so far when I get the chance.
Another couple of things to mention, older toonies (pre-2012) read a lot like copper pennies, but stronger and less stable. They usually pinpoint 7.5kHz dominant. They can be a bit tough to tell from from bottlecaps sometimes. I also recommend doing some pinpoint tests with iron. With a DD coil it does not pinpoint in the center, except sometimes with 22.5kHz. This applies to to steel coins as well and it may work better to wiggle pinpoint. This doesn't happeny to a concentric coil though, the 950 coil is more stable on steel and nickel and pinpoints in the center.
It took me a while to figure this out, hope it helps.