This Western Electric classic has become nearly synonymous with "telephone."  Introduced in 1950, the Western Electric Model 500 quickly became the standard.  In 1954, in addition to the original black, the model became available in a variety of colors…including this firehouse red!  I like to imagine that phones of this type sit on desks at both the White House and the Kremlin (though I know the hotline is actually a teletype, not a phone connection.)

As ubiquitous as the Model 500 is, it may well be one of the last of its kind.  You'll note the dial, which has been the standard way to input a phone number for forty years.  Last year (1964), Ma Bell introduced "Touch-Tone."  Rather than signifying numbers with a series of clicks (did you know that you can dial a phone just by hammering the hang-up button?), Touch-Tone phones have buttons, each of which produces a tone corresponding to a specific number.  They are faster to dial and Bell switchers probably find them more efficient to process.

On the other hand, Touch-Tone phones aren't generally available — I only know about them because they were showcased at the New York World's Fair. 

So for the time being, you'll still need to keep that pencil stub around to save your manicures!