1. First of all make a new 300x300 images on white background. Then using Type Tool create your type and use black color for your text. I used a Book Atiqua font at 72 pt and set the font style bold.
2. Go to Layer => Layer Style => Stroke or just double click on your type layer on the layer palette. Once the Layer Style box has opened then use the following values for stroke.
3. Go to the Gradient Overlay box and use the following settings. You will need to get the gradient to look like the one I used.
To modify the gradient double click on it and add and change the slider to resemble this.
4. Next drop down to the Bevel and Emboss settings and set the following values.
5. Move down to your Inner Glow box and use the following values.
6. Move down to your Inner Shadow box and use the following values.
7. Now, finally move down to the Drop Shadow box and use the following values.
Final Result:
