Cardiff striker Bellamy revealed over the summer that he was planning to finish his career with the Dragons once they wrap up their World Cup Group A qualifying efforts.
Any realistic hopes of qualifying for the finals in Brazil have vanished but manager Coleman believes a strong finish will put them in a good position when the qualification draw for an expanded Euro 2016 is made.
And Coleman feels it would be a pity if Bellamy were to miss out should Wales end what would be a 58-year wait to reach a major finals.
"Craig knows what's best for him and it will be his decision," said Coleman. "But you are a long time retired and with the way players are looked after by the medical staff and physios there is no doubt that Craig can carry on for a few more years.
"If we have a strong finish to this World Cup group we will get a kinder draw for the European Championship qualifiers, and it would be a shame for Craig if he was not to be part of some success after putting in the time."
Wales captain Ashley Williams is also keen for the 34-year-old to extend his international career by a few more years.
"He has to do what he feels is right, but I would like him to play for as long as possible as he is a great player, a great person to have around the squad, and another senior head," said the Swansea defender.
"I haven't had the chance to sit down and talk with him about it at all, but I would like to think that if we can end the campaign well, try and target three of the four wins, then maybe he will feel a little better about the situation.
"If he does stop playing I am sure it is not because of how many games we have won, but maybe it would help the case."