In a food processor or blender, grind the peanuts until they resemble finely ground bread crumbs and set aside.
Microwave the butter on high for 15 seconds or so until slightly softened, then place in a large mixer bowl. Add the granulated and brown sugar and cream on medium-high speed with an electric mixer until smooth and creamy. Mix in the eggs, one at a time, then mix in the vanilla and peanut butter. Stop the mixer and add the flour, baking soda, baking powder, and salt, then mix on low speed until just uniform. Mix in the ground peanuts on low speed until just mixed in.
Using an 18-8 scooper, scoop the dough out into 2 1/4 inch diameter balls and place on a parchment lined baking sheet. When all the balls are formed, place the baking sheet in a freezer overnight. The next day, transfer the frozen dough balls to a gallon freezer bag and store in the freezer until ready to bake.
When ready to bake, remove the desired number of cookies and place well spaced on a parchment covered baking sheet, no more than 6 per 12 x 18 inch sheet. Preheat the oven to 350 F then bake for 22-24 minutes until the cookies look firm in the middle and dry around the edges. Remove from the oven and let cool on the baking sheet for 10 minutes then remove to a wire rack to cool fully.