I still think you will have trouble achieving ground balance on the beach regardless of coil used, that leaves you with having to reduce the sensitivity by a fair margin for it to run more stable. How far did you manually adjust the GB by, did you try running it down to zero? Also the 505 is not alone in having trouble on wet sand, many VLF's will have the exact same issues. Sometimes when detecting dry sand, you may find it is still wet not far underneath causing falsing issues - some people notch out the lowest numbers where often the falsing occurs. You will also need to run the coil off the beach surface by an inch or two, especially on the wet sand or you may get excessive falsing.
I used to have a x-terra 305 and didn't really care for it regarding beach ability, some of the new VLF detectors like the Nokta/Makro VLF units will actually successfully GB over wet sand and even in the water - even my Ace 250 was a very good detector in the dry sand, just not so good on the wet with its fixed GB.
Ultimately I gave in to the frustration of trying to detect wet sand with a manual ground balance VLF, and moved up to a multi-frequency detector to get at those deep targets in the wet sand.