Society of the Mongol Empire influences. Genghis Khan authorized the use of paper money shortly before his death in 1227. It was backed by precious metals and silk. The Mongols used Chinese silver ingot as a unified money of public account, while circulating paper money in China and coins in the western areas of the empire such as Golden Horde and Chagatai Khanate. Under Ögedei Khan the Mongol government issued paper currency backed by silk reserves and founded a Department which was responsible for destroying old notes. In 1253, Möngke established a Department of Monetary affairs to control the issuance of paper money in order
The Legend of Kublai Khan while secretly building up their forces. Following Ögedei Khan's death, Töregene becomes the Regent of the Mongol Empire for some years until her son, Güyük, is elected as the new Great Khan. When Güyük dies in a conflict against his cousin Batu, his wife Qaimish takes over as the Regent for a brief period of time until Möngke becomes the new Great Khan. A few years later, after Möngke dies in a battle against the Song Empire at Diaoyu Fortress, Kublai and his younger brother Ariq Böke engage in a power struggle to seize the succession. Kublai eventually overcomes his