Kublai Khan (Mongol emperor) Genghis Khan would die three years after this event in 1227, when Kublai was 12. Kublai’s father Tolui would serve as regent for two years until Genghis’ successor, Kublai’s third uncle Ogedei, was enthroned as Khagan in 1229. After the Mongol conquest of the Jin dynasty, in 1236, Ogedei gave Hebei (attached with 80,000 households) to the family of Tolui, who died in 1232. Kublai received an estate of his own, which included 10,000 households. Because he was inexperienced, Kublai allowed local officials free rein. Corruption amongst his officials and aggressive taxation caused large numbers of Chinese peasants
Society of the Mongol Empire to eliminate the overissue of the currency by Mongol and non-Mongol nobles since the reign of Great Khan Ögedei. His authority established united measure based on "sukhe" or silver ingot, however, the Mongols allowed their foreign subjects to mint coins in the denominations and use weight they traditionally used. During the reigns of Ögedei, Güyük and Möngke, Mongol coinage increased with gold and silver coinage in Central Asia and copper and silver coins in Caucasus, Iran and southern Russia.±±§ The Yuan dynasty under Kublai Khan issued paper money backed by silver, and again banknotes supplemented by cash and copper cash.