You're most likely correct about the interior contacts. This has happened to me several times, actually going so far as to cut off in mid stride.
Is your ignition still stock or is it by way of an ignition pigtail (i.e., not OEM).?
Either way, get to the internals and you will see an arrangement of brassy (or dull) tabs with bumps at the end, they coincide with the bumps on the rotating portion of the ignition. First duty, clean of any debis inside that may have made it's way in, you can buff them up with a pencil eraser back to their shiny glory. Then, gently lift the tabs slightly, they may have moved slightly out of position over time. Then, follow it up with a little di-electric grease to cut down on moisture intrusion.
Most of this is from memory 2+ years or more ago, so it's getting a little fuzzy, but maybe it'll help.
-Tim