Yeah, like Ken said, that's the way the standard S and S+ works. The machine won't accept any more coins in than what the max coin of the game is, which is indicated on the award (payoff) glass on the front of the machine. So for a 2 coin multiplier game you can only insert 1 or 2 coins. This is controlled by the software chip on the mpu board.
However, on an S+ machine you can replace the SP chip on the mpu board with what they call a "Montana credits" SP chip and then you can do what you are talking about. Extra coins inserted will add to the playing credits on the machine, up to a limit of maybe 99 credits (?). SP1137 is often used for this. But I don't think this can be done on an S model.