Polymer latexes have long been used as coating binders by various branches of industry due to their capacity to adhere coating components and increase the strength of the dried final coatings. In addition, these latexes have been known to affect the rheology of coating dispersions. Currently, emulsion polymerization is the most widely used method of producing polymer latexes. While the stability of these latexes is primarily provided by electrostatic repulsion between surfactants, this property also causes foaming problems during coating processes. In this research, these problems were addressed by preparing polymer-stabilized (PS) latexes that contained different concentrations of acrylic acid. Steric protection of the latexes was provided by a protective shell consisting of starch and poly(vinyl alcohol) (PVA). The viscosity, particle size, ζ-potential, and viscoelastic behavior of the prepared latexes were investigated as a function of pH, and their surface tension and foaming tendencies were evaluated. The latexes were applied as coating cobinders in calcium carbonate and clay coating dispersions, and the viscoelastic properties, surface tensions, and foaming tendencies of these mixtures were studied. The presence of acrylic acid monomers was found to be an important factor affecting the viscosity, particle size, and ζ-potential of the PS latexes prepared in this work, which were further found to generate less foam than comparable emulsion-polymerized latexes. Finally, coating color viscoelastic properties were modified via the partial substitution of styrene-butadiene (S/B) latexes with PS latexes.