The Royal 500 Model L introduced in 1964 and was a real step backwards for the 500 series.  Although still a sharp looking radio, the output fell back to 100 milliwatts, the speaker was reduced in size, and the quality of sound suffered.  It sold for $39.95 and came in three colors:  Black with a gold grill, white, and a few in green.  

Check out these Royal 500L radios.