This has been asked on a few occasions, and the short answer is YES. The placenta contains levels of heavy metals that some would suggest unsafe to consume your placenta. However, of the 3 main heavy metals being mercury, cadmium and lead, none of these pose an increased risk when ingesting the placenta post birth. There is not a notable amount of mercury to even mention. Cadmium is present, and is around 2 to 3 times higher in smokers placentas, however the European Food Safety Authority suggest a maximum daily intake of around 24 ug of Cadmium, and an average smokers placenta would contain 6 ug, so even if you consumed the entire placenta in one sitting, it would be considerably lower than the daily recommendation. Lastly lead. The average placenta contains around 5 ng/g of lead. Compare this to the maximum levels of lead allowed in the production of Candy in the USA - cannot exceed 100 ng/g it looks like the placenta is a better option that eating a jelly snake!!!
\Have a read of this article to give you the full run down.