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It could be a problem with the actual timer. Did you try to swap a rejector with one that you know is working properly? If you are jiggling the coin in the slide tray to get it to accept, it must be the rejector. The only way to be sure is to swap it to a vac that is working, and try to see if you get the same results (having to jiggle the coin tray to accept). If so, the rejector has a bad connection or kicker foot, if not a bad wire to the timer or the timer itself. Try the same thing with the timer. Switch out one from a vac that is working properly etc. Send the rejector back for repairs, buy a new one, or upgrade to something else MA800, Slugbuster II, Microcoin, Etc.
It does sound like the acceptor to me as well. The wires to the pickup coil might be loose somewhere. If it's out of warranty, it's trash; they don't repair old ones.
You don't have to change to something that takes quarters if you don't want them. A Slugbuster I (PEM 35) will fit in its place and take only one coin, whatever you use as a sample.