I think your numbers are incorrect.

What I think you did was calculate the area of the field

120 yds = 4320 inches
50 yds = 1800

Area = L X W = 7,776,000 Sq. inches.

Then I think you incorrectly calculated the area of the chip as L X W or 1 9/16 X 1 9/16 (1.5625 X 1.5625) = 2.44140625 sq. inches and then divided the field by the chip

7,776,000 / 2.44140625 = 3,185,049.6 (our difference is probably due to rounding issues).

BUT THIS IS WRONG BECAUSE CHIPS ARE ROUND
if you actually laid them out you would find that they do not actually cover the field because of the shape.

You calculate the area of a circle by the very famous formula area= PI (R^2)
R= 1/2 of the diameter or
so the area of these chips = 1.91747598485705153714760948686493 square inches.

the area of the field / the area of the chip =4,055,331.10266291201946039138380897

but I don't think this is really the answer either because it doesn't truly account for the shape of the chip, it assumes that there is no overlap and of course if we are not destroying the chips we will have to overlap them.

So now that I have demonstrated that your answer is wrong and my answer is wrong perhaps there is a math person who can give us the correct answer.