This is something I ran into last summer while testing the new ignition switch before wiring. Bad manufacturing. With key off and key out it passed voltage. With ignition on it opened the circuit not passing voltage. Contacted who I ordered it from and they sent a replacement for free not wanting the first one back. I thought that was odd, being they are $50-70 depending on where you get it. The replacement one did the exact same thing. I tore apart the old original switch to see how it was constructed, and not wanting to wait for another resolve, I tore the new one open. The center plastic disk was manufactured the opposite of original. I drilled new holes for the springs and re-assembled. Works great. I verified the with the switch in, the mount would be grounding for the bulb to work, and it didn’t ground out the switch terminals. But it wasn’t something I checked before tear down. It is just a 2 position off/on switch. You may have a poorly made switch also.
Chip
'Rusto-Mod' '51 Chevy 3600 5 window | C4 Corvette front/rear suspension & drivetrain | everything else looks old and stock '92 GMC Sonoma GT #15 of 806 '91 GMC Sonoma GT Extended cab 1 of 1 Trucks, Trucks.....and more Trucks