The Bounty Hunter IV is a good beginners machine. Tone mode is the best mode for coin shooting. The meter is useless though. In tone mode you listen for the tones. high tone is usually a good target, flat tone or broken is usually pull tab or foil. (Unfortunately this is also where gold and nickels chime in at but they are more of a steady flat tone where pull tabs tend be a broken tone,)The best settings in tone mode, sensitivity as high as you can without chatter, usually around 3:00 position. discrimination at about 11:00 to 12:00..
On beaches, (which the detector performs very well), or sand, woodchip tot lots where digging is easy, go all metal mode, again sensitivity as high as you can without chatter and discrimination at 0, this will give you maximum depth.
I never use the full discriminate mode so I can't tell you much on that. If you are a coinshooter and hit parks and schools, this machine will pay for itself very quickly. also batteries with head phone use will last about 40 hours +. All and all this is a great machine as an introduction to this hobby.
Again my opinion on that meter is that it is useless, If you watch it, you will see that it spikes real high on solid sounding tones and not so high on faint/quick tones. It is not a depth indicator even though the the numbers might seem like they represent inches, it just indicates the strenght of the signal which is useless unless you are deaf.
Enjoy your detector.