It's true that Garrett marketed a "discriminating" BFO around '72. All BFO's can "discriminate" between ferrous/non-ferrous but Garrett claimed to have extended that to foil and maybe some pull tabs. IMO it didn't work well (I have one).
Allen Hametta marketed the A.H. Pro around 1974. It was an "off-resonance" design (cousin to the BFO) and could discriminate foil, pull tabs, and even screw caps but had little depth.
Technos introduced the Phase Readout Gradiometer in '74 which was a true TR discriminator and even had a target ID meter (definitely a first).
Bob Gardiner also had a phase discriminator design by 1974 but I'm not sure if it was marketed at the time. All my Gardiner lit is at the office.
By 75-76, White's, Garrett, Compass, and Bounty Hunter all had TR discriminators. But they clearly weren't first.
So a lot of different people were working on discriminators in the early 70's but if I had to give the nod for the first TR disc it would probably be Technos. BTW, phase discriminators were being developed for eddy testing devices (basically works just like a metal detector) in the mid-60s.