In a glass mixing bowl, melt butter in the microwave. Whisk or beat into peanut butter. Carefully add powdered sugar a little at a time until combined. Stir in the peanuts and rice crispies. Once all ingredients are combined, place the bowl in the fridge for about a half hour to chill.
Remove chilled mixture from fridge and using a small ice cream scoop, scoop out balls of peanut butter onto a cookie sheet lined with wax paper. Place tray in freezer to set an additional 30 minutes.
After balls have chilled about 25 minutes, break up your chocolate in a microwave safe bowl and melt at full power in the microwave stirring after 30 seconds and then every fifteen seconds until melted and smooth.
Should take 1 - 1.5 minutes.
Remove pan from freezer and dip each peanut butter ball into the melted chocolate coating completely. Place the coated ball back on the tray and continue with each one. Once the tray of peanut butter balls are covered, place the tray back into the fridge for a couple minutes for the chocolate to set.