This may sound stupid but I always see people picking fish up by the gill plate. Does this hurt the fish by damaging the gills? If not let me know how you do it without hurting the fish or taking forever to get it grabbed corectly. Also is there any danger to your fingers by picking up a toothy fish like a northern that way. Sorry for the dumb question, but it is something I have always wondered how to do.
First off it’s not a stupid question at all. 
I think in all cases a large fish (define that as you will)should not be picked up exclusively by it’s gills. They just aren’t made for that, sure there isn’t probably a better way to grab some big fish, in which case I think it’s best to limit the time that they are picked up exclusively by the gills, get an arm under them support the fish’s weight with your arm under the fish, use the gills if you have to then to help control the fish. Can’t imagine it’s a whole lot different than picking a person up by the neck, sure it can be done, but it’s going to hurt.
I actually cringe to see a pic of a big fish held up by the gills, I suppose if you were going to harvest the fish it probably doesn’t matter a whole lot. Myself I’m mainly a catch and release type of guy.
I know Brian K, will chime in with some nice pics to better illistrate the point. I know he really urges Stergeon anglers to be careful. 
Smaller fish can be held by the gill COVER quite comfortably. a couple of fingers on the underside, and your thumb on the outside gill cover. you can hold them firm and be in good control. if the fish squirms, it is not hard to stay in control. You do NOT ever want to drop the fish. And the most important thing is to stay clear of the actual GILLS on the inside. ( the soft red feathery rakers are the GILLS, and is how they absorb oxygen from the water). you do NOT want to get you fingers into or damage the (red) gills at all.
larger fish when held by the gill cover should be supported with your other hand, so be in better control and hold some of the weight. take a few pics and get them back into the water.
If you are going to keep the fish, it doesn’t really matter.
Fish that you do NOT want to LIP, are any that have visible teeth. Lipping is putting your thumb into their mouth just inside the lower jaw, and hold that against your bent 1st finger which is under the lower jaw. again, larger fish should not be held just by their lower jaw, DO support their weight with your second hand. Do NOT lip Northerns, Walleye, Sauger, or Muskies. You CAN lip Large and Smallmouth Bass, panfish, Crappies.
If in doubt, do NOT put your thumb into any fish to LIP them. Better to be safe. Even a small Northern, can really tear you up pretty bad and require stitches..
hope that helps.
Jack..
As long as you aren’t “Rough Housing” the fish, I think they will be fine!
I believe it depends on a number of things.
The size and species…and
The person holding the fish, and the willingness of the fish. These both have to do with control. Example: It’s not going to do a 10 lbs walleye any good to “cradle” it if falls 4 or 5 feet because it slipped out of your hands.
As mentioned above, keeping the fingers out of the gills themselves is a critical factor.
That’s my non-expert opinion.
Now with flatheads and sturgeon, I can never see a reason to hold a fish by the gill plates. Body support is a must for the these guys. As one DNR Biologist said to me….remember what they use to do to cattle thieves?
Having the lucky angler sit in a chair is a very good (and easy) way of supporting the weight of the big guy using two hands.
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