There are various ways to approach this problem. Here are some of the ideas
that you can work with, depending on how the graphic is inserted:
1. Inline graphics can be formatted as Hidden. They won't print provided you
don't have "Hidden text" checked on the Print tab of Tools | Options. But
they also won't take up space, so don't hide graphics unless the other
contents of the document are laid out such that removing these spaceholders
will not affect them.
2. Printing of wrapped graphics can be suppressed by clearing the "Drawing
objects" check box on the Print tab of Tools | Options. But this option is
not viable if you have other drawing objects (including text boxes) in the
document, *and* you again have the issue that suppressing printing also
removes the objects as placeholders.
3. If space is the only concern in either of the two options above, you
could create blank placeholders behind them. (text boxes, AutoShapes, or
frames [as appropriate for the given option] with no line and no fill).
4. The best way to suppress printing of text or graphics, while leaving them
in place as placeholders, is to color them white. For text, you accomplish
this by changing the font color to white. For graphics, it is accomplished
by setting the brightness to 100%.