While continuing my numismatic studies, I found a rather obscure reference to a possible hidden image in a coin. The article was presented in the Bulletin de la Société Suisse de Numismatique, 1re année (1882), No. 5, and was reporting on the Essais of the new 20 rappen (centime) coin introduced in 1881, which was the world's first circulation coin made of pure nickel. The final paragraph tells the story (translated from French by Google and me),

It is signed by M. de Palézieux, who was the SNS President at the time. Here is the original French for those who want to try their own translation:

M. de Palézieux erred when he mentioned the head of Helvetia on the coin - it is Libertas as presented on her tiara (a point the article made clear). The German Kaiser in question would have been Frederick III, who ruled until 1888. Personally I cannot see any hint of a face on the coin, but the example in my collection is of such a low grade that it could have rubbed off in circulation. My 1884 coin is in better shape but there is no guarantee that the dies had not been reworked in the intervening years. This coin is so unimportant in the pecking order that I cannot find any high-grade images of it online. If anyone can provide one, please email me at bobfritsch@earthlink.net.

Just another fascinating tidbit from the Wonderful World of Numismatics.