Well, it'll focus at 1cm in front of the lens. With that said, superzoom lenses are by nature a great compromise to achieve the zoom - chances are, you'll get "good" but not "great." The L120 has very little manual control over shooting functions, which will get in your way when shooting coins because it'll limit your ability to correct for the conditions.
If your desire for a camera involves a lot more than just shooting coins, and you don't feel like dropping the bigger money on a dSLR + lenses, the L120 is an excellent jack-of-all-trades choice. I can't say with confidence that it will be very good at shooting coins because of the lack of manual control - you'll be forced to find the camera's "sweet spot" rather than changing settings to make up for the lens' limitations.
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