Using my new-tone Golden with Discrim at the preset, I found a religious medallion (St Francis), with no marking as to metal composition. With Discrim set past nickel reject it is still detected, but at maximum Discrim it is not. So it's not silver but more conductive than a nickel. Maybe a mixture of lead and silver, i.e., pewter? On my E-Trac is reads as 12-36.