Found another note/handout I have that focuses mainly on reading text which is highly relevant to this thread.
The following are the top 4 most used fonts for reading text, which also includes font sizes:
Adobe Caslon (11/12.75 pt)
Adobe Garamond (11.5/12.75 pt)
ITC Stone Serif (9.5/12.75 pt)
Janson Text 55 Roman (10.5/12.75 pt)
There are some conventions to keep in mind but it's pretty long. If you're interested in reading it, I've provided it below.
1. Pick a typeface with similar character widths
For the smoothest appearance, an alphabet character should have similar widths. Reading has a natural rhythm; an alphabet such as Futura with widely varying widths disrupts it.
Widely varying widths (Futura) vs Similar widths (Times New Roman)
2. Medium height-to-width ratio
We identify letters by their physical characteristics—stems, bars, loops, curves and so on; the clearer they are the more legible the letter. As letters are compressed (or expanded), these features get distorted—diagonal strokes, for example, become quite vertical—and so are harder to identify.
Medium height-to-width ratio (ITC Stone Serif) vs Compressed height-to-width ratio (Racer)
3. Medium x-height
The x-height of a typestyle is the height of its lowercase characters. The larger the x-height, the denser the type will appear. You want medium; unusually tall or short x-heights are better suited for specialty products.
Medium x-heights: Cochin, Times New Roman, Adobe Caslon
4. Look for small variations in stroke weight
The best text faces have stroke weights that vary somewhat, which make converging lines that help the eye flow smoothly. But avoid extremes. Modern styles vary too much; at high resolution their beautiful, superthin strokes disappear in a dazzle. Sleek geometric styles vary little or not at all, so are too uniform.
Too different: Bauer Bodoni
Medium difference: Times New Roman
No difference: Futura Medium
5. Watch out for mirrors
Geometric typestyles are so uniform that their letters are often mirror images. For text, this is not ideal—the more distinct each letter is, the more legible whole words will be. Look for typestyles that don't mirror.
Mirrored: Helvetica Neue Roman
Not mirrored: Gill Sans
6. Avoid overlarge counters
Counters are the enclosed spaces inside letters. Avoid typestyles whose counters are very large in relation to the stroke weight. In the case of Avant Garde, note how much greater the space inside the letters are than the space outside! This will slow the reader; set in text, Avant Garde looks like Swiss cheese!
7. Avoid quirkiness
Typographic sprites are fun to look at and great for heads, but in text they wear out their welcome fast. Why? The extra swashiness gives the eye too much to follow and is very tiring.
Fun, but too quirky for text: Belwe
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