Coil

Apply the $ to a better detector instead. Sorry.
 

Honestly its not worth upgrading your best bet is to purchase a Garrett 250. Not too much money and for $200 or less as you may find a used one on our for sale forum you will get a lot of bang for the buck plus they are a robust machine. There are good coils that you can later upgrade the 250 with. Probably the top selling starter machine and a good back up machine if you get a higher end machine.
 

On the Tracker IV the best all around coil is the 8", which it already comes from the factory with. The 10" coil is less sensitive to coins and actually will not detect them as deeply as the 8" coil will, but is better and actually meant for detecting deeper larger targets. The 4" coil is intended for gold nugget hunting, but also excels at locating coins adjacent to trash targets. I use a 4" coil on my old 202 a lot, and is a nice option to have for hunting in trashy areas that others tend to avoid. I give up just a smidgeon of depth over the 8" because I am able to jack my sensitivity to the max on most ground, and it will detect coins mixed in with trash targets very well. The 202 is a close relative of your IV.
The IV is a better machine than many will give it credit for, and you can find used 4" coils on ebay for around $25 which makes it a viable option at that price. I would suggest that you use your IV to pay for any upgrades you might want to make, that way you will gain valuable experience with it. That experience will transfer over to any other unit you might end up with.
Before you buy a 4" coil you might want to try raising your coil about 3-4" above the ground in trashy areas, as that is a field expedient simulation of a smaller coil, as it reduces your electromagnetic flux footprint into the ground, and works quite similar to what the smaller coil will do, just remember that your actual ground coverage is greatly reduced so you will have to tighten up you overlapping to achieve good coverage.
Whatever you decide to do, good hunting and enjoy your detecting time! Cheers!!
 

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