Welcome to the forum Jed, and Congratulations on your very first ring find. If you found it in your yard, I just wonder who it might have belonged to.
I have a suggestion to give you, try the Jewelry mode in your yard. A Sterling ring will show up in Coin mode, but a ladies very fine gold ring will not. It will show up in Jewelry mode though. Also go real slow in your yard and dig all signals that are 4 inches or more deep. Of course if the signal just sounds off one way and not the other, it is probably iron.
I like to sort of walk around a signal, see if I can get a good signal out of it. You will be surprised at how many signals you will make good by doing this. Also I like to use around 4 notches of sensitivity, you can use more if the signals sound steady, but if they become erratic, turn the sensitivity back down.
Hope some of my suggestions will help you. I also run a ACE 250 and I use a SunRay Probe that is attached to the detector. I recommend that you use some sort of probe. It really makes locating the object a whole lot easier.
HH, Ringfinder