In a mixer or medium bowl, beat the peanut butter, butter, and vanilla extract together.

Add the powdered sugar and mix until evenly combined. If using a mixer, make sure to scrape down the sides of the bowl once or twice.

Press together to form a dough and then divide the dough into 24 equally sized pieces.

Roll each piece of dough into a ball and place it on a plate. Refrigerate the balls until firm, about an hour.

After the peanut butter balls have chilled, place the chocolate and coconut oil in a small saucepan and gently heat on low until melted. Let the chocolate cool to room temperature.

Using a skewer to hold a peanut butter ball, dip in the melted chocolate, leaving the top of the ball exposed.

Place the dipped buckeye on a plate lined with a piece of parchment.

Repeat with the remaining peanut butter balls and then refrigerate to firm up the chocolate.

Once set, store in an airtight container in the refrigerator for up to 2 weeks.