Heat oven to 350 degrees F.
Roast peanuts on baking sheet for about 20 minutes until light golden brown. Set aside.
With electric mixture, cream peanut butter, butter and sugars until creamy. Beat in eggs, one at a time, add vanilla extract.
In a separate bowl, whisk together all dry ingredients (except nuts and chocolate chips).
Slowly add to peanut butter mixture, beating on low until just blended. Stir in chocolate chips.
Lightly crush peanuts and place in shallow bowl.
Roll a teaspoonful of dough into a ball and press one side into nuts.
Place clean side down and 2 inches apart on parchment-lined baking sheet. Gently flatten top of cookie with spatula or bottom of a clean glass.
Bake for about 10 minutes or until light golden brown.