It's not quite a "who's buried in Grant's tomb" type of question -- I used to do letterpress printing in a cold metal shop but I haven't retained this datum. The one lettepress printer I asked so far didn't know the answer.
Most type is cast out of a lead alloy that's made with tin and antimony.
Are the actual strips of leading made out of the same metal, or pure lead?
I'm guessing they were pure lead, because I remember them being much softer than pieces of type (and hence easier to bend and cut).