Line a baking sheet with parchment paper and set aside.

In a medium mixing bowl, combine the peanut butter, softened butter, vanilla bean paste, and powdered sugar substitute.

Beat or stir the mixture until smooth, thick, and uniform, similar to a soft cookie dough that holds its shape.

Scoop the mixture into 1 tablespoon portions and roll each portion between your palms to form smooth balls.

Place the peanut butter balls on the prepared baking sheet and refrigerate for 20 minutes, until firm.

While the centers chill, place the chocolate and coconut oil in a small microwave safe bowl.

Microwave at 50 percent power in 20 second intervals, stirring after each interval, until the chocolate is fully melted and glossy.

Let the melted chocolate stand for 1 to 2 minutes to thicken slightly.

Remove the chilled peanut butter balls from the refrigerator.

Using a toothpick or fork, dip each ball into the melted chocolate, turning to coat and letting excess chocolate drip back into the bowl.

Place the coated balls back onto the parchment lined baking sheet.

Repeat with the remaining peanut butter balls until all are coated in chocolate.

Refrigerate the tray again until the chocolate is fully set and firm.

Serve chilled or transfer the peanut butter balls to an airtight container and store in the refrigerator.