Coffman says the state will need someone with leadership experience in the governor's office when Bill Owens departs in two years due to term limits.
Coffman says he'll try to build on the foundation Owens started when it comes to improving transportation and education. But he refused to criticize Owens, with whom he's clashed on issues like tax reform over the past two years.
The only other Republican to indicate an interest in the race so far is University of Denver President Marc Holtzman.
Potential Democratic candidates include Representative Mark Udall and millionaire entrepreneur and think-tank founder Rutt Bridges.
Holtzman has no prior political experience.
Former Denver District Attorney Bill Ritter and former Lieutenant Governor Gail Schoettler are among Democrats also considered possible candidates.
Schoettler narrowly lost the governor's race to Owens in 1998.