The threshold might be considered a stability control, that works together with the sensitivity control.
Here are the lowest settings (air test) that could get a quarter at 8" with a proper ID, DE mode, disc 15
thresh -5 sens 99
thresh -4 sens 70
thresh -3 sens 20
thresh -2 sens 16
thresh -1 sens 12
thresh 0 sens 16
thresh +1 sens 6
thresh +2 sens 4
thresh +3 sens 1
Yes, all these settings are about equal in depth, though not in volume, at disc 15.
The more negative the number, the more depth lost at high disc settings. Settings of thresh 0 or above will have no depth loss on higher disc. In DE all metal, quarter IDed properly at 9" with thresh -9 and sens of 35. The detector can be swept slower without losing depth, using all metal.
None on these settings can be turned up very far in the presence of mineralized ground or electrical interference without getting falsing noises. Turning up the sens can make a small improvement in depth, but may become unstable.
The SL mode will be deeper but separation not as good. SL mode will require negative threshold many places SL disc 25, thresh -5, sens 50, 9 1/2" air test on quarter. SL all metal thresh -9, sens 35, proper ID on quarter at 11". HH, George (MN)