After reviewing the data on bearings that will fit the hole, the load carrying capacity of those bearings is not large enough to survive on a belt grinder. You'd have to bore the hole in the contact wheel out considerably. Without knowing how much material you have, it's better to go with the Wide inner ringed housed units as suggested by Deker.
The largest capacity bearing that will fit your contact wheel hub can only carry a dynamic load of about 300 to 550 lbs. of dynamic load. The life of those bearings won't be very long, as they are designed for computers, fractional horsepower motors, projectors, domestic appliances and similar devices.
The shaft size would have to be 1/4" which is way to small for a grinding machine.
I suggest that you use bearings with the part number SAS 7/8 . These bearings have set screw locks so that you can reverse directions if need be. It has positive contact land-riding seal. It comes factory pre-lubricated, but has a grease fitting if you desire to relubricate it from time to time.
You should make the shaft .875" to .8745". Bore the contact wheel hub out to .874". When you put the shaft through the contact wheel hub, just put the shaft into the freezer for about 3 hours prior to inserting it into the hub. The shaft will still have a light press fit going in, but once the temperatures normalize between the shaft and contact wheel hub, you won't have to worry about the hub slipping on the shaft.
The bearings will be able to be slipped onto the shaft. Try to keep the contact wheel as close to the bearings as possible. The overhanging load should be minimized as much as possible. Keep the two bearings spaced as widely apart as convenience will allow, while keeping the contact wheel as close to the nearest bearing as possible.
The reason I suggested boring out the hub is to get a slightly larger shaft size that will be stiffer and less likely to flex under grinding loads. Ball bearings do not handle misalignment very well and any bending loads on the shaft would be detrimental to the bearings life.
Torque the set screws that lock the bearing to the shaft to 80 in/lbs. This is the specification for locking the bearing down. If you lock them too tightly, you'll distort the inner ring and the bearing will spall out quickly. If you don't lock the set screws tight enough, the inner ring will work loose and spin on the shaft.
Here are the two closest distributors to Mt. Vernon, WA.
Motion Industries
3949 Irongate Rd
Bellingham, WA 98226
(360) 752-3303
Applied Industrial Technologies
901 Iowa St
Bellingham, WA
(360) 733-4580
Good luck.
Ickie