A friend of mine has her great grandmothers quilt and she asked me the best way to store it. Since I have no antique quilts I really don't know. Any help would be appreciated. She has been keeping it folded up in a wooden chest. Is this right are wrong? Help please

The best way according to the experts is to store it in acid-free tissue paper and an acid-free box.
I personally think it should be displayed :D

Your friend needs to find some acid free tissue paper. It's placed in the folds of the quilt to prevent permant creases in the quilt.A cloth bag or pillow case is a good way to store an old quilt. She needs to get it out of the wooden chest. The oils in the wood will stain the quilt and deterate the fabrics. The quilt should be re-folded every few months to help prevent permant creases.

Wrong. The acid in the wood will first stain the fabric and then gradually eat holes in the fabric. She could still store it there if she would first encase the quilt in a clean sheet or large pillowcase. However, fold lines tend to become permanent. The quilt should be folded on the bias (less stress on a single thread) and re-folded at least every 6 months (every 3 months is better).

If she has a spare bed, a good way to store a quilt is to place it on a bed and cover it with a sheet or bedspread. Storing flat is best for a quilt, and a covering keeps dust and sunlight off of it.

It is very important to keep light away from the quilt as much as possible. Sunlight fades fabrics fastest, but other types of light also fade fabrics -- including flourescents. A quilt should never be displayed in such a way that direct sunlight hits it. Even bright indirect sunlight will fade it fairly fast.

I know she wants to keep the quilt, I would keep an antique if I had one. But she might at least toy with the idea of taking the quilt to a quilt museum and show it to them, and get their advice. Maybe they would be interested in having the quilt, and would take the best care of it.
If she keeps her quilt, it will not be shown.
If the museum keeps the quilt, it will be stored away a lot of the time.
Either way, it will be protected.

If mine aren't on display, they're stored in washed and dried (no fabric softener) cotton pillowcases. I hadn't thought of folding on the bias and now will. They're kept in a pile, not stored and far from window light exposure.

Use it for what it was intended.