I was caught out by that in my early travels.
I had two Authors - Arthur C Clarke and Arthur C. Clarke, so I merged one into the other and realised a few months later that all my photoshop source files had been deleted in the move.
I am not aware of any Recycle Bin in Calibre.
This won't help you for your current issue, but if you right-click on the "ebooks" icon (between Remove books and Save to disk), select "Library Maintenance" then "Check Library". It will run through a quick diagnostic, then ask if you want to open a report. Answer Yes.
You will see an item "Unknown files in books". From my experimenting, if a book has entries listed here, and you then move/merge the book within Calibre, then these files will be deleted.
Hopefully that is of use to you in the future so you can quickly check before moving books around.
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