In a large bowl, combine the peanut butter, butter, vanilla, and salt. Add in the powdered sugar and stir until well combined, the mixture should resemble a stiff paste.
Line a baking sheet with parchment paper.
Roll the mixture into one inch balls with your hands and place on parchment paper.
Refrigerate for at least one hour until the balls are chilled and firm enough to dip.
Melt the chocolate to dip the peanut butter balls in by placing the chocolate chips in a microwave safe bowl. Microwave in 30 second increments stirring between each one until the chocolate is melted and smooth (this usually only takes two 30 second increments for me)
Use a toothpick to pick up each peanut butter ball and dip ¾ of the ball in the chocolate mixture leaving the top ¼ exposed.
Place back on the parchment paper and continue dipping all peanut butter balls.
Chill for another hour in the refrigerator to harden the chocolate.
Serve chilled or store in airtight container in refrigerator.