Step 1: Use the law of total probability.
The total probability of getting heads is:
\[
P(\text{Heads}) = P(\text{Heads|Blue}) \cdot P(\text{Blue}) + P(\text{Heads|Red}) \cdot P(\text{Red})
\]
Since the coin is chosen randomly, the probability of choosing each coin is \( \frac{1}{2} \). Thus:
\[
P(\text{Heads}) = 0.99 \cdot \frac{1}{2} + 0.01 \cdot \frac{1}{2} = \frac{0.99 + 0.01}{2} = \frac{1}{2} = 0.5
\]
Thus, the correct answer is \( 0.5 \), corresponding to option (c).