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The advice given on this site is based upon individual or quoted experience, yours may differ.
The Officers, Staff and members of this site only provide information based upon the concept that anyone utilizing this information does so at their own risk and holds harmless all contributors to this site.
As I recall, the economical 304 alloy stainless steel is about 10% stronger than the twice as costly 316 stainless steel. However, the 304 alloy rusts a <b><i>LOT</i></b> faster than 316 alloy. (That's exactly why 316 is so popular with boaters and 304 is prefered by manufacturers.)
I suggest you check the relative strengths of silicon bronze compared to either stainless alloy. At 3/8", there isn't a whole lot of safety factor overkill designed into those keel hanger bolts, so don't go weaker than 316 stainless.
On my 1979 C-25 kept in tropical salt water, I replace the stainless steel bolts every two years or so. I also added a back up support under the keel hangers made from silicon bronze. The work involved isn't for the lazy or faint of heart.
Notice: The advice given on this site is based upon individual or quoted experience, yours may differ. The Officers, Staff and members of this site only provide information based upon the concept that anyone utilizing this information does so at their own risk and holds harmless all contributors to this site.