1 1/2 cups peanut butter
1 cup butter, softened
1/2 tsp. vanilla extract
6 cups confectioners' sugar
4 cups semisweet chocolate chips
In a large bowl, mix together the peanut butter, butter, vanilla and confectioners' sugar. The dough will look dry. Roll into 1 inch balls and place on a waxed paper-lined cookie sheet.
Press a toothpick into the top of each ball (to be used later as the handle for dipping) and chill in freezer until firm, about 30 minutes.
Melt chocolate chips in a double boiler or in a bowl set over a pan of barely simmering water. Stir frequently until smooth.
Dip frozen peanut butter balls in chocolate holding onto the toothpick. Leave a small portion of peanut butter showing at the top to make them look like Buckeyes. Remove toothpicks and put back on the cookie sheet and refrigerate until the chocolate is set. Store in a air-tight container in the refrigerator until serving.