The first one the midwife dried it out and encapsulated it.
The second one, I blended about a quarter size piece into a smoothie that she could drink immediately after giving birth.

We then froze it by putting it outside in the car as it was -27 degrees that day (Minnesota in January), with the intention of passing it off to a midwife who would later dry and encapsulate the rest. However, we moved across the country soon after and somehow misplaced the placenta (which was in an ice cream bucket). Fast forward to July and I was cleaning out the trunk of our car and found it. I threw it away.

I think it mainly helps with iron replacement. It may also have some psychological benefits that help with post-partum depression, while this may be placebic, my wife did have less of the blues when she took it versus our other four children.

I do agree though, the placenta is disturbing to see but for rather interesting reasons.