Looking at the pencils I was a bit suspicious that there was no sign of the lead showing at the blunt end of the pencil. I proceeded to cut into the pencil with a craft knife bit by bit until I actually found the lead.
I'd lost about 1/4 of the pencil before I reached the lead which to me was a total waste.
If this is part of the manufacturing process it will mean that there will be a total loss equivalent to 3 pencils by the time the are all used.
I'm not impressed.