Yeah, my Bounty Hunter Tracker 4 also has a waterproof coil. I use it on the wet sand right up to the water and if it gets splashed a little it's not going to die.
But if I submerge it and swing it in the shallows it freaks out and becomes useless for a while.
So yeah, you can probably use yours right up to the water's edge, but on that wet sand expect very little depth and a lot of false signals and chirping. If you're hunting a rich area it might be worth the effort and frustration. If it's a trashy area you'd do better up on the dry sand.