Brad, I use a bolt that I think is grade 2 (no marks on the head) and they are bulk stock at Tractor Supply and most hardware stores. Depending on the type of cutting I'm doing, I can expect to break no shear bolts or several. Last weekend I broke four while cutting in some particularly rough areas with hidden rocks and stumps. I always carry about 3 or 4 spares in my toolbox. I also carry a punch, very large screwdriver or pry bar and a set of channel-lock pliers. When the shear pin snaps, the collar slips around the gearbox's input shaft and traps a small piece of the shear pin. You must move the u-joint collar or rotate the blades by hand to get the hole exactly positioned over the broken shear pin. Only then can you drive the piece out and replace it with a new shear pin/bolt. I always select a bolt between 1/2 and 1" longer than the collar's diameter. After putting on the the nut on the shear bolt, I grip the threads sticking out with the channel-locks and crush the threads to provide interference with the nut when it tries to loosen. Otherwise you will have to use expensive aircraft locking nuts with a nylon insert. I'm cheap, so I just crush the threads. /forums/images/graemlins/shocked.gif /forums/images/graemlins/blush.gif
A problem can occur if the collar is new and very tight on the input shaft to the gearbox. You'll need to slide it forward (away from the gearbox) until it hits the lockring on the front of the input shaft. That's about the correct position so you can get the hole directly over the sheared pin. This is what takes practice and the job is sometimes harder becase the PTO shaft locks at the tractor when it is disengaged. I used to carry a small pipe wrench with me to grip the gearbox's input shaft between the collar and the gearbox. I could turn the gearbox instead of the PTO and easily match the hole location. I'm sure you will hear several good solutions for this "exercise," but with experience, you'll find which method works best for you.
Here's hoping you never, never break a shear pin. /forums/images/graemlins/grin.gif ...but that is probably not going to happen. I joined the two-dozen-club a long time ago. /forums/images/graemlins/tongue.gif