Liberty Head Gold Double Eagles were first minted in 1850 and continued production until 1907. This example was struck at the Philadelphia Mint during 1899 and is graded in Mint State 64 condition. Due to the passing of Executive Order 6102, a large amount of 1899-P Liberty Heads were melted down. This order sought to revive the American economy by recalling circulated gold to be melted down. It is because of this order that gold coins of this era, such as the 1899 Liberty Head Double Eagle, are so rare. Out of all 1899 Liberty Head Double Eagles minted, significantly less than 1% have been graded in MS64 condition between PCGS and NGC. With so few examples graded MS64, this coin is a tremendous Condition Rarity.The Liberty Head Gold Double Eagle, designed by James B. Longacre, was the first Double Eagle, or twenty dollar denomination coin, minted in the United States. The reasoning behind creating a new twenty dollar coin composed of 90% gold was due to the California Gold Rush, which introduced massive amounts of gold into the economy.