Looks fine to me. The only watermark errors I have ever seen have been the result of the sheet being fed upside down and the watermark ends up being on the wrong side of the note. http://currency.ha.com/c/search-res...rk+error&limitTo=all&ic4=KeywordSearch-071515
Have you compared the 5 in question with another $5.00 bill? Maybe that's just the way it was designed.
Yes, with many of them. My husband works a second job where he makes cash, so I go through all the bills. When you get just the right light on it, you can barely see the top of the 5, but not clearly at all. When you see the top of it, it looks more even. But I was wondering if that was an error being you can't really make out the top unless you stare at it and move it around.