You might want to mention what you have, because that might make this easier to answer.
Off the cuff, I would say the right way to do it is go to Radio Shack and buy a female chassis-mount BNC connector and drill a hole in the back of the radio and mount the connector, and take a small piece of coaxial cable and solder the center conductor to wherever that old telescoping antenna attaches and the shield of that cable to ground on the main board, and then the other end of the center conductor to the center tab on the BNC and the other end of the shield to the outer ring of the BNC.
I only suggest BNC instead of SO-239 because it takes up a LOT less room on your receiver. But for all I know, you don't even have room for a BNC.
Then you will be able to attach any number of antennas to the thing.
However, if you can afford to upgrade, I would do that instead. You can sell that radio to someone who doesn't care as much about performance and get one that doesn't need this little modification, which might not be appreciated by the next guy.