Incrementing numbers within a mid function and repeat until max number

[VLD]

I am performing an if function on the specific postions of a cell, in this example AD2. If any position =" " or ="$" I am returning that same position of another cell, W2. If the formula is false I am returning the same position of cell AD2. Below is the formula I have for the 1st postion:
=IF(OR(MID($AD2,1,1)="$",MID($AD2,1,1)=" "),MID($W2,1,1),MID($AD2,1,1))
I want to essentially repeat the formula within the cell 22 times by incrementing the position that is looked at in my if statement.
So to look at position 2 the statement would look like:
=IF(OR(MID($AD2,2,1)="$",MID($AD2,2,1)=" "),MID($W2,2,1),MID($AD2,2,1))
Is there a way for me to do this without having to rewrite this formula 22 times and concatenate it all together?

 

[Ron Coderre]

It would be very helpful if you posted some samples for AD2 and W2
along with the results you want to see based on those samples.

 

[Gerald Higgins]

Also, is it possible that there could be more than one "$" or " " character in each entry ? And if it is possible, what do you want to do ?

 

[VLD]

Examples within ":
AD2:"$611"
W2:"60015500045VK81"

My desired output of the formula would be without the ":"66115500045VK81 "

I can live without the extra spaces at the end, but I know in any of these cells I could have a maximum of 22 alpha-numeric characters.