1 cup peanut butter chips
1/2 cup semisweet chocolate chips
1/4 cup confectioners' sugar, sifted
1/4 cup salted peanuts, finely chopped
3 cups all-purpose flour
1 1/4 cup butter or margarine, softened
1 tablespoon vanilla extract
1 cup confectioners' sugar, sifted

Combine peanut butter chips and chocolate chips in the top of a double boiler; bring water to a boil. Reduce heat to low; cook until chips melt.

Remove from heat, and stir in the 1/2 cup confectioners' sugar and peanuts. Let stand at room temperature for 30 minutes or until mixture is firm enough to make into balls. (Do not refrigerate.)

Make into 3/4-inch balls, and let stand until firm.

Combine flour, butter and vanilla extract in a large mixing bowl; beat at medium speed with an electric mixer until blended. Shape dough into a 10-inch log; cut into 1/4-inch slices. Gently press a dough slice around each ball; place on ungreased cookie sheets. Bake at 375 degrees F for 18 minutes or until cookies are lightly browned.

Remove to wire racks to cool slightly. Roll in 1 cup confectioners' sugar, and cool completely on wire racks.

Yields 3 dozen.