I understand now. I was thinking about a parallel LC circuit instead of series.
I finally got it all built today. I used different Mosfets that I had, but it worked. My exciter coil is a little smaller, but I adjusted my turns and capacitor value in order for it to be resonant at 125kHz. Here are the results from my design:
Receiving coil sitting inside the exciter coil
Power supply = 5V at .055mA
Receiving coil = 7Vpp with 50ohm resistor.
I believe this calculates out to close to 45% effeciency.
The effeciency is higher then I expected, but I was hoping for more output power. I'll probably run through the calculations again to see if I can figure out how to increase the output power. Any ideas? Thanks again, this was a lot of fun to build.