Combine. In a large bowl, combine smooth peanut butter, softened butter, vanilla extract, and salt. Whip with a hand mixer (or beat in a stand mixer with the paddle attachment, if you prefer!) 1-2 minutes, or until smooth and creamy. Scrape down the sides of the bowl.
Add Powdered Sugar. Next, add the powdered sugar, and beat, starting at LOW speed, then increasing speed to medium once the powdered sugar has blended in a bit. Mix unitl no more powdery sections remain. The mixture may look crumbly, but should hold together easily when pinched. (If yours is too dry to hold together, you can add additional peanut butter 1 teaspoon at a time, if needed.)
Scoop & Roll. Use a small cookie scoop to measure 1 Tablespoon scoops of dough. Roll them smooth between your palms, so there are no cracks or divots. Place peanut butter balls on a parchment lined baking sheet, an repeat until all the dough has been rolled.
Chill To Firm Up. Cover the baking tray, then refrigerate at least 30-40 minutes, to firm up the peanut butter balls. (This makes them easier to dip and helps them hold together.)
Melt Chocolate. In a small microwave-safe bowl, combine chocolate chips and coconut oil. Melt on LOW power in the microwave in 10-15 second intervals, stirring in between each interval, until the chocolate is smooth and glossy.
Dip In Chocolate. Use a thin wooden skewer or a toothpick to dip the peanut butter balls into the melted chocolate, one at a time. Leave the top section of each ball uncovered for the signature buckeye look! Place the chocolate dipped balls back onto the parchment lined baking sheet to set.
Chill To Set. Return the tray of buckeyes to the fridge (uncovered until the chocolate sets!) to let the chocolate set up. If desired, you can smooth over the little hole created by the skewer with your fingertip, a small spatula, or the back of a spoon. (In the small Ohio town I lived in, the hole was considered a feature, not a flaw, so it's really up to you!)
Serve & Store. Enjoy once the chocolate has set! Store leftover buckeyes in an airtight container in the fridge so they don't dry out. (Or, transfer to a freezer-safe container and freeze up to 2 months.)