Duplicate the background canvas and go to Filter > Noise > Add noise.
Set the blending mode to Color Dodge and Opacity level to 42.
Step two:
Write your text, I used this font settings, Eurostile, Bold, 72 pt, Smooth and #58583C. Whats great about this technique is that it will turn a normal font to something grudgy so if you start out with a grudge / gothic type font the final will look even better. But on all of my tutorials, I use as much default as possible so it's easier for everyone to follow.
Step three:
Add the following layer-styles:
Size: 1 Position: Outside Blend Mode: Normal Opacity: 100