Also, the toggle I was thing of would not really be a toggle but some sort of switch that would move down when a coin falls into the cylinder, report a "1" and then move back to its original position (in an automatic, spring-like action).
You're describing a "whisker switch" like this one from SparkFun. Lots of other suppliers out there, but you get the idea.
Cut a vertical slot in the side of the cylinder and let the spring finger protrude into it. Keep the hinge of the switch at the top of the vertical slot. The coin wouldn't fall onto the switch but it would trigger it as it passed on its way down. Even an American dime should be able to trigger it.