In a mixing bowl, cream the peanut butter and butter together with a hand mixer.

Slowly add the powdered sugar until well combined. Add the vanilla.

Line a large cookie sheet with wax paper or parchment paper.

Scoop 1-inch balls of the peanut butter mixture and roll into a ball. Place on the cookie sheet. Continue until all the peanut butter mixture is gone.

Refrigerate for 20 minutes until hardened.

In a microwave safe bowl, melt the melting wafers for 30 seconds. Stir and if not completely melted add for an additional 10 seconds, stir and repeat as necessary. (Refer to package directions for melting instructions as well.)

Remove the peanut butter balls from the refrigerator. Using a toothpick, dip one ball at a time into the chocolate until covered. Place back on the lined cookie sheet. Let harden completely before serving.

Store in an airtight container in the refrigerator up to 5 days.