A crude experiment confirms that the
Laz's light bulb method (along with
link_choi's modifications) actually works!
I just set a camera up on a tripod facing downwards and physically moved a florescent bulb around each of three shots to simulate uv normal lights from different angles. I got blurry results from the lack of proper nightlight settings...

Then, I estimated what the three UV colours should be for each angle based on a normal map I made of a cone. (Note that different 3D applications have uv normal colours from different directions).

I made a three layer Gimp/Photoshop file of each colour, and applied the black and white coins as transparency masks of the coloured layers... I didn't do any real merge method; just "normal" layers stacked to make something looking like a normal map (this would make the top layer dominant - I was being lazy)

Given all my inaccuracies, applying the resulting map as a texture turned out better than I'd expected...


I reckon proper studio lighting of the coin, along with some real analysis on what the official normal map colours should be (e.g. not just my guess of them), with a more definitive merge method could indeed make very convincing results.
Thanks for your pointers everyone.
