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Here are some examples, $2 or less surplus. Some of them give specs on what frequencies they work with. All are in the MHz range, metal detectors are in the Khz range, 1/10th or less. Not sure what the Ebay guys are asking for these, but last time this came up, it was $12-$15, plus shipping (of course).

http://www.allelectronics.com/make-a-store/category/235/Ferrites/1.html

For me, I don't see how they could have any effect at all, except the weight of your wallet. $2 each surplus, usually means 50 cents or so in large quantities. I'd have to believe if they worked even a little, for some areas or environments, detector makers would have been using them for a while, simple cheap advantage over competitor's machines.
 
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