Some times a small chip of metal from wear lodges itself in the focusing threads. As mentioned, a repair will cure that. Considering the cost (usually $75+) it might be wiser replacing the lens with a newer one.
I am assuming you have the AI version. The AIs version's latest run was the 2006. You have many options. If your brave you can probably tear down the lens yourself. There might be instructions or videos on the web.
Nikon 50mm serial numbers (to identify age):
http://www.photosynthesis.co.nz/nikon/serialno.html#50fast