Well, I'd start by troubleshooting the wiring if you think it might be messed up. If you have a multi-meter put in on ohms (or circuit test if it's got it), unplug the wires from the Ipac, hook one lead to the NO on the switche and one to the COM, press and hold the coin switch and see what you get. You should get 0 ohms when the switch is not pressed and some reading when the switch is pressed.
If you don't have a meter - get one - but in the mean time, use a flashlight bulb, battery and some wire. Rig it up so the coin switch operates the light (if you need more detailed explanation let me know).
If this doesn't work, then you need to use the same procedure to check the switch only and the wire only.
Ps. Harbor freight always runs sales on meters for 2.99. They're cheap but for three bucks not bad.