Recently purchased a 1975 58 yf , and found 6 large lead weights inside the port side storage compartment in the cockpit { they look like silver bars } has anyone seen this before and if so what would the purpose be ?
It was the previous owner's piggy bank, because he knew lead prices were going to skyrocket and figured if he needed the money for fuel, he'd take the lead out! JUST KIDDING Yes, it's quite common and Hatteras as well as many others still do it to this day. It is to balance the boat, and to take a list (starboard or port) out of the boat by putting a little extra weight on one side or the other so the boat both sits level and run's level at cruise.
It's called "ballast". You'll probably find some heavy equipment on the opposite side of the boat such as a gen or the galley that has to be compensated for.