1. Apparatus for classifying a ferromagnetic object within a sensing area, comprising: a magnetic field sensor, said magnetic field sensor producing magnetic field data; a signal processing system operatively associated with said magnetic field sensor, said signal processing system comprising: a neural network responsive to said magnetic field data produced by said magnetic field sensor, said neural network comparing said magnetic field data with magnetic field data produced by known ferromagnetic objects to make a probabilistic determination as to the classification of the ferromagnetic object within the sensing area; and a user interface operatively associated with said signal processing system, said user interface producing a user-discernable output indicative of the probabilistic determination of the classification of the ferromagnetic object within a sensing area.