Yes, this is a typical problem with older AC mains powered electronics,
such as guitar amplifiers.
they have a 2 wire AC power cord, with capacitors going from the "hot" side of
the AC line to ground.....so when you touch your piece of equipment,
and then ground, you get a little shock.
I found the schematic to the 505 and is shows just this....
so remove capacitors C1 and C2, and wire up a 3-wire power cord, that has a ground.
or to make things quick, hook a ground wire from the radio to the ground screw on
your 110 VAC outlet.