I use a different pinpointer. The one that most people on this forum and others either have or are going to get in the near future. It's the Garrett ProPinpointer and as all have said, It outshines all the probes used in the past.
By the way, if you do a simple mod to it called supertuning, it will detect down a good 5"!
I went on the sight and read the instructions for this pinpointer and noticed a difference in it that you don't have to do with most pinpointers.
This pinpointer has to be moved in a back and forth motion to detect, that is unlike most pinpointers that you just probe in the dirt till it vibrates and makes a beep.
It says "The Treasure Mate is an all-metal motion detector. Therefore it must be in slow motion to detect." and "The Treasure Mate was designed to probe small gold nuggets."
By that first statement it appears to me by further reading the instructions that it has to be moved in a back and forth motion to detect metal, just like a VLF detector.
By the second quote it was made for gold nugget prospecting. There is also something on the website about "at 16.5 khz it is sensitive enough to locate very small pieces of placer gold." So it appears it is more specifically made to detect small gold nuggets more than coin and iron.
I also noticed it also has a ground balancing feature which seems nice, especially in highly mineralized areas you would find gold in. But I find it unnessary for the regular hunting I do.
If it does not suit your metal detecting needs than may I suggest you go with the Garrett Propinpointer and sell that one on ebay.
Here are the instructions if you didn't get it with the probe:
http://jobewholesale.com/imagesupload/cms_files/Instructions for Treasure Mate.pdf
Happy hunting