Stir together peanut butter and butter until well blended. Add powdered sugar. If your peanut butter and butter are not softened, it can help to microwave the mix for 20 to 30 seconds.
Refrigerate the peanut butter mixture until it's firm enough to roll into balls. Remove from the fridge and roll into bite-size balls. Place the balls on a tray. Refrigerate for about 30 minutes.
Stir chocolate chips and coconut oil together in a microwave-safe bowl. Microwave for 1 minute. Place a lid on it and set aside for a minute. The chocolate should be melted. Stir until well blended and smooth.
Line a cookie sheet or tray with waxed paper. Dip peanut butter balls in the chocolate using a fork so you can tap off excess chocolate. Place chocolate covered balls on prepared tray. You can line them up pretty close to one another, just not touching. Once all the balls are coated, place the tray in the fridge to speed up the chocolate setting.
Once the chocolate is fully set, transfer to an airtight container. These will keep in the fridge for up to 10 days or in the freezer up to 2 months.
*I recommend using smooth peanut butter, not natural for this recipe. I find natural peanut butter to be a little too "runny" for peanut butter balls.Feel free to adjust the amount of sugar used if you prefer a less sweet version of these peanut butter balls.