It is almost certain that none of these bills represent wasted money. The piece of paper and the money are not identically the same thing. The paper is a document that is made to represent the money. At some point, the document is made to cease to represent the money. The Federal Reserve routinely acquires and destroys old worn bills, replacing them with freshly printed ones. This, by the way, has little or nothing to do with "how much money exists".

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