Kublai Khan Kublai Khan Kublai (; , "Hubilai"; Chinese: 忽必烈) was the fifth Khagan (Great Khan) of the Mongol Empire ("Ikh Mongol Uls"), reigning from 1260 to 1294 (although due to the division of the empire this was a nominal position). He also founded the Yuan dynasty in China as a conquest dynasty in 1271, and ruled as the first Yuan emperor until his death in 1294. Kublai was the fourth son of Tolui (his second son with Sorghaghtani Beki) and a grandson of Genghis Khan. He succeeded his older brother Möngke as Khagan in 1260, but had to defeat his younger
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.