Been there done that! However, we didn't use a metal detector. We rented a proton magnetometer and towed it. We were looking for a Martin PBM a WWII amphib plane with 80' or more of wing, that hunted subs. We did lots of towing and lots of bounce dives at potential targets. The targets were usually a sunken log bundle with the steel cables wrapped around them. If you're looking for something the size of a buick you might find something with the magnetometer but it better be a large target. Oh! We were searching in water from 30-100' deep. You know the bottom is not flat and smooth? Think what you have to do with a coil anywhere. It skims across the surface as close to the target as you can get it. Then air test what you're looking for. If it was 18" that's be good depth. The speed of the boat, current, wind, and changing depth, will add more variables hard to control. It's be like blindfolding you,putting you in a football field, covering your ears, and telling you to walk across a bumpy hill, with people pushing on you every now and then, at a walking speed, find a shovel. If it's a good treasure research other ways to find it. Side scanning sonar, Underwater TV, etc.///Jim