Edge strike and off-center, with "WE" plainly visible from the obverse design. The off-center portion shows where the other side of the edge strike was, but there is no design visible on that side of the edge strike. Neat coin, and rare!
The off-center strike occurred at the same time that the edge strike occurred. As the the die's struck the coin's edge (it would have been spinning on top of the lower die for this to happen), the coin fell over and on top of the lower die, but off-center.