Early on, I was stubborn (cheap?) re. buying a pinpointer. While detecting with a friend, the hole I was digging got bigger and deeper, until I was about to give up (my plan was to spread the dirt on a sifter, to locate the target). Ken came over with his pinpointer, and located the target immediately...along the side of the hole. (It happened to be my first ever King George copper - exactly on edge.)
The next day I ordered one. It helps locating the target in the hole...especially important with the high-end machines going so deep - and sometimes not pinpointing very well themselves (coin on edge, etc.). It helps to locate the target when it comes out of the hole. That also adds up to protecting the target - you could more easily scratch it otherwise.