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
Mongol invasions of Tibet in the late 1240s Mongolian prince Godan invited Sakya lama Sakya Pandita, who urged other leading Tibetan figures to submit to Mongol authority. This is generally considered to have marked the beginning of Mongol rule over Tibet, as well as the establishment of patron and priest relationship between Mongols and Tibetans. These relations were continued by Kublai Khan, who founded the Mongol Yuan dynasty and granted authority over whole Tibet to Drogon Chogyal Phagpa, nephew of Sakya Pandita. The Sakya-Mongol administrative system and Yuan administrative rule over the region lasted until the mid-14th century, when the Yuan dynasty began to