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LINE 2 trays with parchment or wax paper.
BEAT powdered sugar, peanut butter, butter, vanilla and salt in a large bowl with the mixer on medium speed until blended. Shape into 1-inch balls. Chill until firm.
MICROWAVE chocolate chips and butter or shortening in a medium microwave-safe bowl on HIGH power for 45 seconds. Stir until smooth. If necessary, microwave in additional 15-second intervals until completely melted and smooth when stirred.
INSERT a toothpick into the top center of a peanut butter ball. Dip ¾ of ball into melted chocolate, leaving top of the candy uncovered, making it look like a buckeye. Allow excess chocolate to drip back into bowl. Place buckeye on prepared tray. Remove toothpick. Smooth over the remaining toothpick hole using a clean finger. Repeat process to make the remaining buckeyes. If chocolate thickens, microwave in 10-second intervals until melted and smooth again. Chill buckeyes until firm and share with friends.