That's correct -- at the moment there's no way to ensure that those coins are spent on that particular IAP item, and so the user is free to purchase anything (any supported digital content).
One (not so elegant) workaround could be to submit your app to the Underground program. You don't actually have to go live with it, but can keep it in draft mode, and create a Live App Test for your Underground version. As you know, all IAP items in Underground apps are free, so if you add that user as a tester for your LAT, they will be able to use all IAPs in that app for free.
For more
Purchasing Software Video
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