A metal detector has a sensitivity proportionally depending on the mass of metal and inversely proportional to the
fourth power of the distance. THis is a physical rule applicable to any insturment using an ACTIVE electromagnetic technology.
A magnetometer has a sensitivity proportionally depending on the mass of ferrous material and inversely proportional to the
third power of the distance. This is the rule for a PASSIVE electromagnetic technology detecting a dipole.A target looking like a monopole (e.g. a pipeline) changes the third power to the second power, wwhich makes them detected at even larger distances.
That means that a mag is able to detect targets of given mass at a much larger distance than any metal detector if the material of the target is MAGNETIC, which is mostly the case of old wrecks and their cannons and anchors.
Go there and you will find a PPM unit with a good performance/price ratio :
http://users.skynet.be/fa352591/index.htmWilly