Alicorn comments on People who want to save the world - Less Wrong
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I find it annoying when the Red Cross calls me, even when it's just with thanks, but part of why I've given blood in the past is that there's a plaque on the wall in my grandma's house of a newspaper clipping in which my grandfather is praised for exceeding the (I think) 10-gallon mark of blood donation.
Human blood has very low iron content by weight -- it is measured in micrograms per deciliter.
I was also disappointed when I learned that the process of extracting the iron is nontrivial.