Jim Rogers Is Buying Gold Coins From North Korea

AP ImagesKim Il SungThe idea that someone would buy goods from or invest in North Korea is likely to outrage some people as the transactions would probably directly or indirectly finance the controversial government.

But that's exactly what legendary commodities investor Jim Rogers is doing.

Bloomberg's Sara Eisen pointed us to a Wall Street Journal story explaining Rogers' rationale:

Mr. Rogers, who started the Quantum Fund with George Soros in the 1970s, couldn't be reached for comment, but had said in a previous interview: "Coins and stamps are the only way I can invest in North Korea."

By invest in, Mr. Rogers means he wants to wager against the long-term prospects for the isolated, economically struggling country. He views his purchase as a bet on the collapse of North Korea.

"At some point down the line, North Korea will cease existing as a country. Then the value of the coins will go up," Mr. Rogers said.

So, Rogers believes he is shorting North Korea.

The Journal reports that a total of 13 one-ounce coins were purchased by an assistant of Mr. Rogers at a coin fair in Singapore. The price was around $2,014 a piece.

Read the whole story at WSJ.com.