Heat oven to 350 degrees F. Line a cookie sheet with parchment paper or a silicone mat.
In mixing bowl, whisk together flour, baking powder, baking soda and salt; set aside.
In a separate bowl, or bowl of stand mixer, cream butter with sugar for about 3 minutes, until very creamy. Add peanut butter and beat until well-blended.
Beat in eggs, one at a time, and then vanilla extract. Scrape down sides and bottom of bowl.
With electric mixer on low speed, slowly add flour mixture until fully incorporated and then add chocolate chips until well-blended.
Working on baking sheet, fill ice cream scooper with batter, drop into hand and then roll dough in the peanuts, pressing the nuts into the dough. Place on lined cookie sheet spaced a couple inches apart.
Bake for about 12 minutes or until edges are light golden brown.