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...... I now wonder how many of those Michelob caps and pennies might of been something else.
jcCALIF, it would depend on the demographics (people/usage/habits/junkiness, etc..) of the place. But there are certainly some places where you'd go psycho trying to dig all the wino screw caps, zincs, and pennies "just because some gold rings read that high".
Some buddies and I had the unique opportunity in 2006, to get in on a park scrape in San Francisco. The city went in to an 1870/80s park, and scraped off the top 6 to 12", to make way for artificial turf, for a soccer field. At first, when they were down a uniform 6" and more, it was ALL old coins (the clad was scraped away in that top 6"+

) It was heaven for a night or two, where every single penny/dime/quarter signals was no less than a wheatie, silver, IH, V's, buffalos, etc... However, by the 3rd night, the workers had begun to fill back in low spots, and doze dirt back and forth

This was so that they can get their ultimate grade/level. That re-introduced tons of the modern junk from the stock-piles. But NO PROBLEM, eh? Since "holes" were a non-issue (it was all tumbled dirt everywhere), we could continue to treat the place in "relic mindset" (dig all, except iron). And for a week, that's what I did. To the tune of many hundreds of targets per night, as fast as I could dig at times

This was a very blighted neighborhood, and a very junky park (that md'rs had previous avoided d/t it was just an ocean of tabs, screwcaps, and clad).
For that week of "digging all" in this disturbed landscape, I saved every single item, so that I could do a final analysis. At the end of the week, I had an entire box of junk. And yes, lots of silver, wheaties, IH's, seateds, barbers, clad, etc... And yes, I had some gold items: About 7 or 8 as I recall. A few rings, a charm, a watch-back, etc... I don't think any were the monster big men's sized you describe. But even if there HAD been one of those "big college rings" like that, here's the deal: even for the 7 or 8 gold items I had found in this relic-mindset at this junky urban blighted park, each of those gold items had a ratio of several hundred-to-one. It would simply not have been worth it, for someone to have gone to this turfed park, to angle for gold. He would simply have been much better off to simply go to a swimming beach, if jewelry were his goal. He'd have been kicked out of the park d/t too many holes, if trying to dig that many holes. And certainly if his angle, as you say, was to seek the big men's rings that read in the square tab, or wino cap, or zinc range, then that would have been folly indeed (because, as I say, even of the gold I got, I don't recall any that were the monster size like that. Perhaps tab TID's for a couple at best).
So as you can see, it depends on the site. Perhaps an athletic field in a non-blighted area, which has no eating/picnicking, and is strictly athletics in an upscale neighborhood, then yeah, the ratios aren't as punishing. Or beaches for sure (but then, go figure, you're not playing the odds anyhow, so it's a mute-point, since beach hunters just dig all conductors).