It thuds, it cuts and, as it turns out, it does melt, eventually. It's definitely lead. It just takes a bit longer to melt that the usual stick on wheelweights.
My assumption is that it's almost pure lead, so it needs a higher temperature to melt. My smelting pot just makes it to a bit below 650 degrees, which is right on the hairy edge for pure lead.
Well we don't rent pigs and I figure it's better to say it right out front because a man that does like to rent pigs is... he's hard to stop - Gus McCrae