Depends or other uses
Hey Joe,If formed into a bulb or billet and not under any stresses other than its own weight, for a non-trailerable boat, lead is usually a better choice. If the keel is shaped into a thin fin that needs to resist lateral pressure, lead will bend or break, so you better use iron. An iron fin ending with a lead bulb may be the best choice.My answer would have been different if your question was "Which is the better ballast?". For a non-trailerable boat, lead is the best ballast because it takes up less space for the same weight and won't rust, On the down side, it may be hazardous if improperly handled and disposal is a concern. My choice for ballast in a trailerable boat is water. It's free and you can leave it for others to enjoy when you take your boat home.Weight comparision:1LB lead weighs 1LB1LB iron weighs 1LB1LB water weighs 1LBHappy (fusion powered) sails *_/),MArk