Buckeyes

In large mixer bowl, beat cheese until fluffy. Gradually beat in sweetened condensed milk until smooth. In heavy saucepan, over low heat, melt peanut butter chips; stir into cheese mixture. Add peanuts. Chill 2 to 3 hours; shape mixture into 1-inch balls. In small heavy saucepan, over low heat, melt confectioners' coating. With wooden pick, dip each peanut ball into melted coating, not covering completely. Place on wax paper-lined baking sheets until firm. Store covered at room temperature or in refrigerator. Makes about 7 doze