We are in the process of doing the same with my mum's house. So far, for our archive, we have photos, birth / death certificates and "artefacts" going back about 6 generations. It is fascinating and likely to take us ages to sort.
I have found storing them is the main problem and have started scanning them into my computer so that I can put the originals away safely. I plan to put the scanned images into a photobook - but it could take me a long time!
I put all of our family artifacts into a loose leaf binder with each item in a separate pocket with a label on the front of each pocket. Makes it so much easier to see where everything is.Plus when other family members want to look they dont have to touch the fragile paper.
Every item was also scanned and saved onto an external hard drive for safety.
We also found the very old tin trunk that was my great great uncle's. Thus has now been designated "home of the family archive". My sister has volunteered to scan everything scannable and list everything. She'll still be at it next Christmas!
Luckily my mum had written notes in things, so it's helping identify people and stuff.