I would keep them for later. A newborn doesn't need a coin bank, for example. Nobody else is going to want a coin bank with your child's name and birthdate. A twelve year old will happily save coins in a jam jar. But a twenty-something, moving out into their own apartment, may be delighted and touched to have a coin bank, engraved with their name and birthdate, that was a gift from a relative who may now be gone. It can be in their new home as a reminder of how they were celebrated from the moment they were born.
If you are only going to keep objects for your child that are to your taste, you are going to have unhappy friends and relatives, and possibly an unhappy child. Those of us whose homes are full of brightly coloured plastic things, tacky stuffed animals with oversized eyes, and silly posters from TV shows and movies aren't tasteless morons who like that kind of thing. We're parents. We let our children have things that excite them and we let people give our children things we would never have bought ourselves. You might as well get used to it.