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I'm not familiar with the details of the V540's notch discrimination system, but the upper limit of your discrimination setting is almost certainly causing a problem. I'm assuming you set this at 40 to avoid the copper and aluminium trash? Small ferrous trash (iron/steel) is relatively easy to discriminate out and small aluminium foil shreds can usually be blocked too, but discrimination settings higher than this risk blocking desirable targets. You probably cannot search for a medium/high conductivity target such as 22 karat gold AND eliminate high conductivity copper and aluminium at the same time, as the target ID numbers will likely overlap.
Incidentally, neither a natural gold nugget nor a $1/$2 coin will give you clear guidance as to the likely target ID for a 22 karat Krugerrand. I'd guess that a Krugerrand would produce a higher ID number than a $1.
Yes I now see my problem when using the V540 discrimination system settings - in the absence of a Krugerrand target ID number it looks like I might change the range from current 30-40 segments on to 20-40 segments on. FYI I tried to attach the V450 manual in PDF format to this post but no luck so far. It can be downloaded from https://www.minelab.com/__files/f/414493/4901-0305-2 Inst. Manual, VANQUISH 440 540 EN_WEB.pdf