If you want to remove all the coating, use chemical paint remover. If you want to only remove from the cutting surface of the blade, then here is how I did it...
Get some auotomotive sandpaper in assorted grits.
Lay the paper down on a flat surface that is straight at its edge, like a super smooth board, or whatever man made material you can find that is as smooth and straight as you can get.
The paper and board need to be held in place, you can clamp one end down, but even better is to use spray on adhesive for the paper. (get the adhesive at any hobby store)
You can line up the edge of the paper along the straight edge of your board, or just fold it over at the edge, so long as you end up with a clean line.
Start with your low grit paper, lay the flat of the blade on it with the plunge line of the blade at the edge of the board and paper.
Now drag the blade along the sandpaper nice and smooth. Keep this up, switching sides, untill all the coating is gone. If you glued the paper down, you can probably get away with a back and forth motion for this sanding, but if you only clamp one end of the paper, you'll want to drag in one direction, before lifting the knife and starting over for each pass.
Switch to the next finer grit paper and repeat, sand untill the previous grits scratches are gone.
Keep up this process untill you have worked all the way up to your highest grit.
...Tips for a better finish: -You can use a magic marker to coat the blade before switching to a new grit of paper, this will help you see how much progress you are making on removing the previous grits scratches. -For a mirror finish you need to go to as high a grit as you can, then you can even use buffing or polishing compound if you like.
....Hey, I hope that helps! I've learned a bit more about this stuff since back when I did my Izula. It would have come out even nicer if I would have known what I do now.
Good luck!