That's about right. It isn't an off-center, it's a mis-aligned die. Not far enough off though to be worth a premium.
An off-center coin occurs when the dies come together but the planchet is not centered between the dies. Both the obverse and reverse of the coin will be off center. A misaligned die occurs when one of the dies (usually the hammer die) is not aligned with the other die. If the planchet is centered in the collar the coin struck by a misaligned die will have one side a bit off center and the other side well centered. So only one side of a MAD (misaligned die) coin will be off center.
I don't know, I've never examined them with an eye toward trying to determine that. Most likely the tree side was the hammer die. It is difficult for the anvil die to be significantly mis-aligned because the neck of the anvil die has to fit inside the collar at all times and the sloping shoulders of the anvil die and the underside of the collar tend to center the die in the collar.
not saying i would buy it for $5! I bet you could get $5 on ebay though, and then walk with $3 in profit.
i don't believe i could do that to anyone actually. i will just hold on to it with other oddities i have found that have no real intrinsic value. lol