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 marked the change that was taking place in the market with the flood of low cost sets entering from Asia.

Check out these Royal 500L radios.