.256 Newton with a strange bullet


I have a .256 Newton that has, as can be seen in the photo, a small lead bullet which appears to have been coated at sometime in the past with red wax or paint, most of which is now gone. This is not a round ball, but rather is an almost flat nose with stright sides bullet and is held in with a slight rolled crimp. It has a very flat head with no headstamp. The primer is a flat copper with an “U”, no primer crimp. Anyone have any idea what it is?