It does appear to be off centered a bit. Here is mine to compare to. Post #222. Wish I had better and clearer pictures.
"Axis and Allied Militaria Odds Ends and Ephemera"
My greatest fear is that one day I will die and my wife will sell my guns for what I told her I paid for them
"Don't tell me these are investments if you never intend to sell anything" (Quote: Wife)
It is a genuine, early NSBO flag. I have seen this offset circle a couple of times in the past on early flags. They were locally made before oversight by the Reichszugmeiterei. Thus there was no set of standards at that time.
LIFE'S LOSERS NEVER LEARN FROM THE ERROR OF THEIR WAYS.