Add the peanut butter, butter, and vanilla to a large bowl, and using an electric mixer beat them just until combined.

Add powdered sugar and mix on low speed until combined. Scrape down the sides and bottom of the bowl a few times during this step.

Using a small cookie spoon or tablespoon, take about one tablespoon of the peanut butter mixture and roll into balls.

Set them onto a baking sheet covered with parchment paper and chill until firm. At least 20-30 minutes.

Add chocolate and coconut oil to a medium bowl and melt by microwave it for 1 minute, after that stir well, and if needed microwave for another 30 seconds. Stir to combine and set aside to cool to room temperature.

Use a skewer or toothpick to dip a bit more than halfway the peanut butter balls into the chocolate.

Chill to allow the chocolate to firm up and enjoy. Run a small knife or spatula over the tops to hide the holes.