Send it to Classic Air in Tampa, Florida, and have it rebuilt. If you have the tools, you can change the bearing, but it will be easier to replace it off the car than on the car. There is a slight difference in the mounting bolt patterns from year to year. If you are replacing the front bearing, you should also replace the front seal and the oil wick located inside the bearing cavity. If the system has lost its refrigerant, then it will need to be evacuated and recharged. If it has been converted to R134 instead of the original R12, some other parts should be replaced to improve the unit's performance. I prefer to use R12 whenever doing refrigeration work on old cars, since it works better than the modern refrigerants. The molecules in modern gases are smaller than those of R12, and as a result, some refrigerant loss is to be expected through the old hoses. Another item is the old butyl rubber O-rings, which should be replaced with Viton O-rings if you are going to do a complete servicing of the unit. As you can see, it is easy to go down this rabbit hole, and you will spend a lot of money and time before you see light at the end of the tunnel. I did my 1962 a couple of years ago using all original parts, and it works excellently.
