I also punched out a stack of 4 inch circles for the fortune cookie paper craft I made last summer. I think I counted about 240 large circles. I believe that should be enough for everyone to make several "cookies" with plenty to spare.
Besides the 240 extra large circles, I have twice as many smaller 1" and 2" circles punched. I think I am quite ready to be done punching circles for a while.
This is my favorite paper ornament of the ten I made.