Line a baking sheet with wax paper and set aside.
In a medium mixing bowl, beat 1 cup peanut butter and 1/4 cup softened butter together until smooth.
Add 1 3/4 cups powdered sugar and 1 teaspoon vanilla; mix until a firm, moldable dough forms.
Using about 1 tablespoon of the mixture per piece, shape into egg shapes with your hands and place them on the prepared baking sheet.
Refrigerate the formed eggs for about 30 minutes, or until firm, before coating.
Melt 16 ounces chocolate in a double boiler or microwave in 30-second increments, stirring between each until smooth.
Stir 2 tablespoons butter into the melted chocolate until fully combined and smooth.
Dip each chilled peanut butter egg into the melted chocolate to coat, letting excess drip off, and return to the wax-lined baking sheet.
Allow the chocolate to set at room temperature or chill briefly until firm, then serve.
