Just shy of 5c (nickels) is what you want to pick up gold.
Thanks for the advice rainy! I've read elsewhere but can't find where on how to set the Compadre up so as to not miss small gold objects. Something like "just shy of pulltabs". Does this sound right?
I ALWAYS look for gold when using the Compadre and I would never consider either of these settings because I would have missed too many gold targets at these levels.
Sure, plenty of gold items show up here and you will find them, but many more do fall way below these area...really small targets like studs and smaller rings and earrings in yellow gold and larger rings in white gold, also, not to mention chains in both silver and gold of different sizes.
I usually hunt in all metal to get the deepest and clearest signals, then thumb that knob up past the fade out point and then down to see where and how all targets come in.
So far all gold targets have come in solid with little or no noise, lots of trash will too, but lots of trash comes in noisy so I can avoid lots of that stuff.
Most every gold item I have ever dug has also come in at areas where I usually find trash because depending on the size and other factors gold can and usually will mimic this so well.
These areas will include the space between iron and nickel and everything inbetween and if I didn't dig in these areas I would have way less jewelry in my collection.
In areas with tons of small iron nails and tiny foil and can slaw pieces that come in below the "I" in iron I will raise that knob up to just below the "I" in iron.
Some areas have so much foil and can slaw that even this is too low so I will raise the knob to around the "F" in foil which will kick out those little larger pieces of trash.
At the end of a long hunt when I am tired I might raise the knob again to just below the 3:00 position to pick up all silver and any large gold like class rings but I rarely hunt at these setting when I am fresh or during a hunt...only at the end on the way back to the truck and I have been lucky and found things although this is lucky and rare to actually do it this way.
You never know what will happen out there, but as long as I am hunting with a detector like this that can find just about all jewelry it passes over and has the ability to let you know why not take advantage of that?
Below are some pics of a few gold items I have tested using the Vaq with the standard coil and my 7" coil Compadre.
Also some of the silver chains I have found and where they came in.
I also threw in a few gold pieces I found that were not in that air test list and where they came in.
With the knob set high at the levels previously stated I would have missed these.
The white gold ring is larger than an almost identical one I found in yellow gold.
The yellow gold ring came in at high nickel almost to tabs, the larger white gold ring, due to the alloy mix, came in way lower just about at the "N" in iron which is the same
exact same place where most condiment packages, gum wrapper foil and sports and juice drink cap inserts come in.
Again, you have a tool that can find just about everything.
Set it as low as you can, dig as much trash as you can stand till you are tired of that and you will have a much better chance to find jewelry...
all jewelry and not just a lot of it.
I respect your right to an opinion, but I sure do disagree with it. If you take the time to learn how to use the Vaquero, it is THE best machine in its price range. Mine has paid for itself SEVERAL times over. The discrimination is excellent if you choose to use it, it is lighter than anything else in its price range, pinpoints like a charm, and is deeper than most. YES, I am biased - I admit it openly! Using Tesoro machines has made me this way. 
