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Hired Gun, it's not a common problem but you see it once in a while with Leupolds. The reticle cell is not centered within the erector tube, seen it more than once. Send it back to Leupold, they have pretty good customer service, they'll know what the problem is.
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Hello... The reticle is NOT located in the "erector tube" - if it was, you could NOT adjust the elevation and windage. Also, the reticle MUST be located in one of the image planes, and there is NO image plane in the erector cell.
The reticle is located behind the "erector cell" (the proper term), and is in a fixed mount.
How did you see it more than once??? Curious minds want to know.
Read this and get some edjumacation:
DON'T waste your time sending it back to Leupold. If you send it back and tell them that it's broke cuz you used a bore sighter, they will laugh so loud that they will be heard in New York City.
Do the smart thing and take it to the range, adjust the eye piece properly, and focus the objective for the range you are using, and then shoot the damn thing.