You probably wanna have that thing dealt with professionally. Balancing the prop is an important step you might not be able to do on your own. Think of the stress you're putting on gears, seals, etc. with that thing out of whack. Ever have a tire out of balance? It's harmful to your car. Same goes for an unbalanced prop on a boat. A good thing might be to buy a new prop and have the old one refinished. Now you have a spare. From my experiences you might expect to pay between 80 and $100 to refurb.
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