Several thoughts regarding the coupler…
(1) Lubrication. If you lubricate your ball (with white lithium grease) that will typically keep the internal coupler parts lubricated as well. If you don’t (and there are various schools of thought on that), they might need separate lubrication. If they’re dry and don’t move freely, I might start with WD-40 to loosen things up.
(2) Adjustment. There’s a nut that controls how tightly the underjaw clamps the ball. Check the adjustment by separating the ball mount from your vehicle and latching the ball into the coupler. Move the ball around manually. It should be snug enough to feel resistance, but it should not bind. I usually tighten mine until it binds, then back off until it just moves freely.
(3) Wear. Check the coupler body for distortion and thin spots. Check the internal parts for wear and deep rust. The vertical pin that holds the pieces together is often the first to fail. Make sure it doesn’t have any narrow spots. Any signs of excessive wear leads to…
(4) Replacement. Any competent trailer or welding shop can cut off the old coupler and weld on a new one. You can keep the original 1-7/8” ball size or upgrade to the more common 2”.
(5) Hitching. Try to align the ball slightly forward under the coupler opening so that the trailer moves forward slightly as the coupler drops onto the ball. That prevents the ball from binding on the internal parts, sometimes leading to a dangerous “false hitch,” in which the latch appears to close, but the underjaw is pinched on top of the ball rather than under it.
As to the suspension, rubber torsion axles have a typical working life of 15-20 years, but can often roll on well past that mark with gradually decreasing ride quality. Uneven tire wear can be a sign the
axle is bent or worn out. The wear pattern provides clues.
A rough ride is an indication the rubber inside the
axle is getting brittle. One test is to jack up one side of the trailer (on the frame behind the axle). Note how much the wheel drops as the frame rises (measure hub to wheel arch). Little or no movement means an aged out
axle.
Rubber torsion axles are non-serviceable and replaced as a unit. If it’s riding on the original axle, it may well be time. They can be bolted to a bracket welded to the frame or welded directly to the frame. If yours is welded, it will have to be cut off. You can then decide whether to weld or bolt the new one. Either way you will need the services of a welder.
Before starting an axle replacement, you will want to know the real-world, fully loaded gross axle
weight of your trailer in order to spec the
weight rating of the replacement axle.
Last thought… are you using some kind of hitch tightening device to prevent movement of the ball mount in the receiver? Nothing like spring roads to expose any looseness in your hitch connection!