hi gingerlm,
Two good questions.
If you are an E-Trac owner, I would refer you to your owners manual and another excellent reference book to the Minelab E-trac and Explorer detetctors called, "The Minelab Explorer & E-Trac Handbook", written by Andy Sabisch. He covers your question about the so called 'Conductive' and 'Ferrous' values used for the Minelab Displays. In a nutshell, the digital readings and their related position on the Minelab 'graph' are NOT actual measurements of any metallic property of the coin or a rusty nail, or of a 3-ring bullet, but merely names assigned to the different characteristics of the received signal.
As for detecting copper coins at 2' with the E-trac? It would have to be a BIG copper coin for the E-Trac to pick it up at 24". The Laws of Physics still apply even to the Minelabs.
Many so called DEEP coins are found that are originally missed as the detectorist begins their digging. The coin may be on edge, adjacent to a larger metallic item that was pinpointed instead of the coin, or the coin was not accurately pinpointed in the first place.
As the recovery hole deepens, it also must widen. As the detectorist widens the hole, the coin or other item then falls out of the sidewall of the hole to the bottom and is mistakenly thought to have been the full depth of the hole. I've had it happen myself.
The second scenario is when the detectorist is removing large amounts of soil from the hole with a shovel or such like when hunting an open field and the item comes out with one of the big scoops that removed 8-10" of dirt from the bottom of the hole, or everything from the 8" to the 18" mark. The item was at 10" but the hole is now 18" deep and the item it given credit for being at the very bottom of the dirt that was removed. For a really accurate depth measurement, dig in small increments and use a pinpointing probe.
I have dug larger copper items, the size of a silver dollar, at depths in the 15-16" range with several different detectors dating back to the mid 80's. That is a very deep hole. Twenty four inches is A LOT deeper than that. I've heard of salt water beach hunters finding coins much deeper than coins found inland, but then again, the same type of recovery issues as mentioned above can apply to them as well.
Best of luck in the field.
Rich -