A friend ask me to ask this question:
Richard Adolf Zutt [1887-1938] was a Swiss-born sculptor and copperplate-engraver.
He prepared both coins and plaquettes from precious metals, too, in Hungary during the 1910s. You will find his hall mark enclosed here. My question is what can be seen in the photo?


I hope, someone have an answer to this question.
Best regards!
Krisztián