In a large bowl, mix the peanut butter, butter, vanilla extract and confectioners’ sugar. The dough may look dry. Chill the dough for 30 minutes in refrigerator before rolling them into balls.
Roll into 1” balls and place on a parchment paper lined cookie sheet. Press a took pick into the top of each ball (to be used later in the handle for dipping).
Chill in freezer until firm, about 30 minutes. Next, melt chocolate chips in double boiler or in a bowl set over a plan of barely simmering water. Stir frequently until smooth.
Drop frozen balls in chocolate sauce holding onto the toothpick. Leave a small portion of the peanut butter showing at the top to make them look like buckeyes.
If you would like to freeze the cookies, place back on the cookie sheet, and place them into the freezer. Once frozen, place them in a sealed tight plastic bowl and freeze.