Coins can be used to purchase two kinds of hints:

1. Reveal a letter ("?" icon): Automatically fills in the next letter in the currently selected word.

2. Remove unused letters (⭐ icon): Removes all letters from the letter tray that aren't used in the answer.

These is no limit to the number of hints that can be used in a puzzle, provided you have enough coins to purchase them.
 
Please note that in some playing modes there are different types of hints available - please refer to the playing instructions for each mode for details.