Place the softened butter and the peanut butter in the bowl of a large mixer and beat until soft and well-combined. Add the powdered sugar, and mix until all of the sugar is incorporated.
Scrape the bottom of the mixer, then add the crisped rice cereal. Either stir it in by hand or turn the mixer to low and mix until the cereal is just incorporated into the peanut butter.
Use a candy scoop or small teaspoon to form the candy into small balls and roll them between your hands to make them round.
Place the balls on a baking sheet and refrigerate them to firm up while you prepare the chocolate. (Minimum of 30 minutes.)
Place the almond bark, chocolate, or candy coating in a microwave-safe bowl and microwave in 30-second intervals until melted, stirring after every 30 seconds to prevent overheating.
Once the chocolate is melted and completely smooth, dip the crunchy buckeyes into the chocolate. Traditionally, buckeyes are not dipped completely, so that they retain a small circle of un-dipped candy on top that makes them resemble the buckeye nut for which they are named. If you want to achieve this look, stick a toothpick in the top of the candy, and also use a fork to support the bottom of the candy as you lower it into the chocolate, using the toothpick for added stability and support.
Place the dipped candies on a baking sheet until firm. Store in an airtight container in the refrigerator for several days or in the freezer for several weeks.