Is it possible to have a low blood iron with a normal blood count?

Probably not: If a cbc, complete blood count, is completely normal then iron levels are probably normal as well. A low iron level could initially be noted as a low MCV (which means the red cells are small). This could occur before the hemoglobin or hematocrit decrease. If the test you took was just a hemoglobin or hematocrit, see your doctor to get a cbc.