Destruction Mechanisms in Blood

"the red blood cell graveyard" is a name given to the small circulatory channels in the spleen . There, old cells can get trapped and subsequently destroyed by macrophages.
Hemoglobin is broken down elsewhere.

First, it is broken down into heme and globin
The fate of Heme :

The iron core is saved for reuse The rest is degraded to a yellow pigment called bilirubin.
Bilirubin is picked up by the liver, where it is used as a bile pigment.
There is also sometimes a green pigment called biliverdin made.
The fate of bilirubin? The intestine metabolizes it to urobilinogen , which is further changed to the brown pigment stercobilin .

The fate of Globin :

It is metabolized or broken down to its component amino acids

Fibrinolysis (destruction of blood clots)

Removes unneeded blood clots, naturally!
Plasmin is produced from the activation of plasminogen .

Plasmin is an important fibrin-digesting enzyme. Because plasminogen is incorporated into a clot, when it is activated by factors in the endothelial tissue of the vessel, it destroys the clot from the inside out.

Fibrinolysis occurs about 2 days after clot formation.