Look and see if it says Minelab Sovereign XS as it would be the second generation and one of the best they made, if the coil say coinsearch on it it is possibly the 8 inch one and it too is the easiest to learn the Sovereign with and preferred by many and hard to find, but these are not waterproof like the other coils were..
Take a patience to use and once you do learn it you seem to learn more and more every time you use it. You can never go too slow, but can goo to fast and lose depth or the real weak signals. These hate iron and break up the signals so you know it is iron. Most people hate the Sovereign when they first got it and some got rid of them and those that got to know them find they are one of the best detector there was.
First time user I recommend the sensitivity set all the counter clock wise until it click which i auto and easier to understand . As you get to know it you can go to manual which when you turn it clockwise right out of the click will be max sensitivity and the more clock wise get less sensitivity, backward from what you think it would be, To me I always use disc so you you can reject iron and use the tone to know what is under the coil.
Depth I got deeper coins with my Sovereign and did side my side with the Explorer XS with a friend of mine, only because I went slow and easy an know what to listen too because I got to know my Sovereigns and have tried all the model made and I have a GT now as it is a bit more powerfull, but the XS would be my second choice of the detector for me, just wish they were no so heavy.
Rick
Good luck with it and remember to go slow and listen close to what it is telling and when you get a iffy signal do the Sovereign wiggle and it is is a good target the tone will be easier to and louder too..