Prepare a baking sheet by lining it with parchment paper.
In a large mixing bowl, beat the softened butter and creamy peanut butter together until the mixture is smooth and well combined (this usually takes about 2 minutes).
Add the vanilla extract and kosher salt to the mixture and beat until fully incorporated.
Gradually add the powdered sugar: first, add 1 ½ cups and mix on low speed until it's mostly combined, then increase speed to high for one minute. Repeat this process twice more, adding 1 cup of powdered sugar each time. The final mixture should be smooth, slightly crumbly, and shouldn't stick to your fingers.
Scoop out portions of the peanut butter mixture and roll them into uniform 1-inch balls. Place these balls onto your prepared baking sheet.
Freeze the peanut butter balls for 30 minutes until they are very firm. If you don't have freezer space, you can refrigerate them for 2 hours instead.
While the peanut butter balls are chilling, prepare the chocolate coating. Combine the milk chocolate melting wafers and semi-sweet chocolate chips in a shallow, microwave-safe bowl. Melt them in the microwave using 30-second increments at 50% power, stirring after each interval, until the chocolate is completely melted and smooth. Be careful not to overheat it.
Using a toothpick or a small wooden skewer, carefully dip each chilled peanut butter ball into the melted chocolate. Make sure to leave a small circle of peanut butter exposed at the top; this is what gives buckeyes their signature look!
Gently tap off any excess chocolate on the side of the bowl before returning the dipped buckeye to the parchment-lined baking sheet.
Carefully twist and remove the toothpick or skewer. You can smooth over the tiny hole with a slightly damp finger or a minuscule amount of peanut butter mixture, or simply leave it as is.
Repeat the dipping process for all remaining peanut butter balls.
Let the buckeyes sit at room temperature until the chocolate coating has fully set. For best enjoyment, refrigerate them until you're ready to serve.
Notes
Nutrition Information per serving (1 buckeye bite): Calories: 164kcal Total Carbs: 17g Net Carbs: 16g Fats: 10g Protein: 3g