Hi, I need some info on where the problem might be. My tire is in about 60% condition,no brake binding(free spinning wheel) but if I let go of the handlebars at 50kph or higher there is a shaking/wobbling of about 2 inches on the front wheel.Can anybody give me a list of things to check?

 

If you're lowered the front end (raised the forks in the clamps to get a steeper steering angle and faster turn in) that could cause it, particularly with a worn tire.
Are the forks in the clamps evenly? (ie one not further through than the other)
Is the air pressure in the tire correct?
Have you thrown off any balance weights?
Is the rear suspension set right/working properly?
Are the head-stem bearings tensioned properly?
Are the swing-arm bearings in good condition?
Are you holding your mouth right?

 

Don't let go of the bars! lol

Those checks listed above are spot on. Even if a tire is at 60% does not mean that it has not already cupped or wore badly. How old is the tire?

Welcome to KF

 

Good suggestions^. Sounds crazy, but also check your REAR tire alignment...