Fisher M-100 rebar locator, will it locate other metals such as gold, etc

[Fisherm100]

My neighbor has an older fisher m-100(a newer model is the M-101) rebar locator. He is willing to let me have It for $50.
He used it to locate rebar, and other metal in concrete slab floors at his construction sights. He said he believes it might be good for locating other things such as coins, jewerly, etc, but wasn't sure.

Does anyone know if it would be worth buying for a first time locator?
Any feedback is greatly appreciated.

 

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[Sandman]

A magnet would be better at finding metals than this locator for finding coin sized objects. Use your money for a hobbist detector from a major manufacturer like Garrett, Fisher, Tesoro or White's, Oh yeah, Minelab too.

Welcome to Tnet.

 

[Fisherm100]

Thanks for the reply,
Well that sucks! I was excited thinking I came
apon a cool cheap alternative..

Is it possible to get started with something for
under $100, and if so any recommendations?

 

[MrPoptop]

Bounty Hunter Tracker 4.
100 dollars shipped from Amazon.
Super fast recovery and great 2 tone ID.
Good at seperation too.
Depth is an issue expect like 5-8 inches depending ground conditions.

 

[Sandman]

Ditto. You could luck out at a garage sale too.