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Drywall Screws
Guitars are hung on the wall using specialized devices that are easy on the neck. Pick up one from your local music store or grab one of these ones below from Amazon. These hangers will fit most guitars.
You may have to look a little harder if your trying to hang a 7-string or guitars with strange neck widths, but I have used them to hang an acoustic, classical, electric, and 12-string acoustic without any problems. These are some of the bestselling and highest rated.
In terms of screws -the hangers usually come with both dry wall and regular screws. Dry wall screws simply go into the dry wall and canĀ hold up to about 25 lbs and are less secure.
The regular screws are intended to go into studs and require that you find the studs. Because your hanging an expensive, perhaps sentimental instrument I would advise always screwing into a stud because it is more secure.

Marking the stud.
There are several ways to find a stud. One of the easiest ways is to use a stud finder. Check out your local hardware store or use one of the ones I have highlighted here from Amazon. I personally own this stud finder and it works great.
20 used & new available from USD 21.99
If you don’t want to buy a stud finder there are old fashioned ways of finding a stud. One way involves opening up an electrical outlet and peering inside your wall. You can use this guide to help you find the stud for free.

Hangers can be hung within a range.
You’ll want to keep your Guitar a reasonable distance above the ground so it hangs like a work of art. Remember, the guitar will hang 3 feet or so (1 meter) below the hanger itself.
If your hanging multiple guitars you could keep them all the same distance off the ground, but you could also consider between varying the height or keeping them all at the same height.
Not a good idea if your home or room is not humidity-controlled!