Jersey City residents turned out Tuesday for a runoff that felt like a reckoning. In the end, they delivered a stinging rebuke to Jim McGreevey, the former New Jersey governor whose scandal-forced exit two decades ago still casts a long shadow over his bid for local redemption. Instead, they chose James Solomon, the 41-year-old city councilman who ran on a platform of reining in unchecked development and easing the squeeze on working families.
The race wasn’t close. Solomon captured about 68 percent of the vote to McGreevey’s 31 percent, according to results from the Hudson County Clerk’s Office. That’s a landslide in a city where politics often simmers with backroom deals and family names carry weight. Solomon’s margin echoed the frustration bubbling up in neighborhoods from the Heights to the waterfront, where skyrocketing rents and property taxes have priced out longtime residents.
This isn’t just another local upset—it’s the second time in as many months that voters in a major East Coast city have swatted down a disgraced ex-governor’s grab for a second act. Just weeks earlier, across the Hudson in New York City, Zohran Mamdani, a 34-year-old democratic socialist, trounced Andrew Cuomo in the mayoral race. Cuomo, who stepped down as New York’s governor in 2021 amid a cascade of sexual harassment allegations, had hoped to pivot to City Hall as an independent after losing the Democratic primary. Mamdani took 51 percent to Cuomo’s 41 percent, with turnout hitting levels not seen since 1969, fueled largely by young voters fed up with the old guard.
McGreevey’s fall mirrors that script almost too neatly. Elected governor in 2001, he resigned three years later in a nationally televised confession: “I am a gay American,” he said, admitting to an extramarital affair with a male aide he’d appointed to a high-paying state job. The fallout was brutal—divorce, a messy custody battle, and years out of the spotlight. Since then, McGreevey has rebuilt a quieter life, serving as executive director of a nonprofit helping ex-offenders and veterans reintegrate. He cast himself in the campaign as a “champion of second chances.”
But Jersey City, New Jersey’s second-largest city with its mosaic of immigrant communities and booming skyline, wasn’t buying the narrative. McGreevey, now 68, moved to the city about a decade ago and jumped into the race early, courting endorsements from Hudson County Democrats like State Sen. Brian Stack and former Senate President Stephen Sweeney. He framed his run as a return to steady leadership, promising to tackle the affordability crisis without upending the growth that’s turned Jersey City into a commuter’s haven just minutes from Manhattan.
Solomon, by contrast, positioned himself as the antidote to that very machine. A Jersey City native who once worked in the offices of ex-Boston Mayor Tom Menino and current U.S. Sen. Cory Booker, he won his council seat in 2017 representing Ward E, the downtown district packed with luxury condos and tech startups. His pitch? Get tough on developers who’ve flooded the market with high-end units while affordable housing lags.
“We are going to get tough on developers and force them to build housing you can afford,” Solomon said during the campaign. He railed against property tax hikes—up 20 to 30 percent in some spots under outgoing Mayor Steven Fulop—and vowed to prioritize families over special interests.
The general election in November set the stage, with seven candidates scrambling in the nonpartisan field. Solomon edged out McGreevey with 29 percent to 25 percent, forcing the December rematch when no one cleared 50 percent. The other contenders, including Hudson County Commissioner Bill O’Dea and former school board president Mussab Ali, threw their support behind Solomon in the runoff, tipping the scales further.
Fulop, the three-term incumbent who’s decamping to lead a New York business group after his own failed run for governor, leaves behind a city transformed but strained. Jersey City’s population has swelled past 300,000, drawing waves of newcomers with its skyline of glass towers and PATH trains to Wall Street. Yet that boom has bred resentment: Median rents hover around $2,800 a month, and the average home price tops $600,000. Residents like Mike Liu, a local tech worker, griped about the pace. “Just in 2022 alone, our taxes shot up by, like, 20, 30 percent,” Liu told reporters.
Solomon’s win signals a shift in a place long ruled by bosses like the infamous Frank Hague, whose machine gripped the city for decades. Progressives here, emboldened by national figures like Sen. Andy Kim—who endorsed Solomon—see it as proof that voters crave fresh faces over recycled scandals. McGreevey’s backers, including some county heavyweights, watched their influence wane as the race exposed fault lines in the local Democrat Party. Even whispers of old-school ballot tricks, like the now-defunct “county line” that once funneled votes to party picks, couldn’t save him.
In his concession, McGreevey struck a gracious note. “I want to say, from my heart, I congratulate Councilman—now Mayor-elect—James Solomon,” he told supporters at a subdued watch party. Solomon, meanwhile, wasted no time. “Together, we’re going to build a more affordable Jersey City, where everyone has a chance to thrive and where the people are put first, not developers and special interests,” he declared to cheers. “My promise to Jersey City is simple: I will be a mayor for you.”
As Solomon prepares to take office in January, questions linger about how he’ll deliver. Jersey City’s $700 million budget demands balance—courting investment without selling out to the high-rises that define its horizon. With a council that’s seen its share of turnover, he’ll need allies to push through zoning reforms or tax relief. And in a state where Gov. Phil Murphy’s tenure ends next month—paving the way for incoming Gov. Mikie Sherrill—the ripple effects could reach Trenton.
For now, though, this feels like a voter verdict on accountability. Twice in quick succession, in Jersey City and New York, the public has drawn a line: Past missteps don’t earn automatic forgiveness, no matter the apologies or the nonprofit gigs that follow.
Like New York City across the way, Jersey City is poised for a rude awakening when Marxist policies fail the people.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.