This is quite a touchy subject, but after reading a blog the other day written by another Christian, I felt I had to comment.
Disclaimer: This is written from a non-denominational Christian perspective. Your beliefs and viewpoints will most likely vary. I am placing no judgment of any kind on anyone. This is God's job. You must ultimately take it up with God as to whether you believe what you're doing is right or wrong. Here is my opinion based on my research and prayer.
First, I feel it is important to define sin. I traditionally believe sin to be anything that separates us from God. Others will have their own definition. The official definition is a transgression of moral law or a deliberate disobedience to the known will of God. I don't look at sin as a list of do's and don'ts. Instead, it is more about relationship with God and following his will for your life.
So, I pose my first question. If God is the creator of all things. He created us as women. He created the way we procreate. He knits our babies in our wombs. He created the placenta; it's functions, it's design, it's purpose. We do know there is a benefit to consuming the placenta. So, if the placenta is designed by God to have a benefit to a new mother, then why would God consider it something that would separate us from Him? Why would it bother Him? It's His design. I don't believe it is something that separates us from Him as a general rule. However, I do believe on some level sin is individualized. God may say to someone something He doesn't want them to do. They get this clear message, but do it anyway. It doesn't mean it was a wrong thing in general, it's just that God asked that specific person not to do it and that person disobeyed. I believe scenarios like this do happen. So, by being in tune with God and listening to His will, if He makes it clear placenta encapsulation is not part of His will for your life, then by all means, you should listen. But to view placenta consumption as a blanket sin for everyone is where I draw the line.
There are some who feel it is a sin because placenta consumption is cannibalism. I wrote an entire post on this subject recently and can be found here. . . http://phoenixplacentaencapsulation.blogspot.com/2013/01/is-placenta-consumption-cannibalism.html. Because I make the conclusion that I do not believe consuming the placenta is the same thing as cannibalism, then I cannot label placenta encapsulation a sin based simply on this theory.
I read somone's opinion on a discussion board that we are covered by grace and not the law. I liked this discussion as well. In the Old Testament, they had laws and rituals they had to follow as part of their relationship with God. It was very different than before the Messiah came. Now that Jesus has come and pardoned our sins, we are covered by grace. This is why in the New Testament, we are now able to eat all types of meat (see Peter's vision in Acts 10:9-16) and not have to abstain from certain types because it's the grace of Jesus that is the way to God, not the law. We can't do anything to lose our salvation so long as our belief is in Jesus because it is by grace that we are saved, not by works (Eph 2:8).
Consider this verse: "Do not let the eating of food destroy the work of God. All foods are alright to eat, but it is wrong to eat food that causes someone else to sin." Romans 14:20
Here is also a quote I found from a Catholic priest who was unidentified: "I cannot find anything in the teachings that approaches this exact subject as it is very specific. As for your moral issue...Sin lies in the intent. So the lady who wants to encapsulate her placenta and ingest it would not be sinning because that her intent is to use it in a good way, not in any way which would harm anyone."
A lot of the discussion out there questions how consuming the placenta is any different than chewing your fingernails or picking your nose (gross I know, but a valid thought). I brought up a story I'd heard about a man who was stranded for seven days used his urine and sweat from squeezing out his socks to stay alive. How is this different? If it's okay to use your breast milk (something from your body and again something God designed) to nourish your baby, then how would it be a sin to use the placenta to nourish yourself?
I do not believe placenta encapsulation is a sin. Ultimately, I believe that each person who has a relationship with God and is concerned over whether something is a sin, should pray over it and take it up with God personally. The evidence, however, is in favor that placenta encapsulation is fine. It is not cannibalism. God does not particularly command not to do it in His word. So, ultimately pray over it and have peace with whatever you decide.