Whisk peanut butter and butter together in a large bowl until smooth. Add confectioners’ sugar and beat in with a wooden spoon. Stir in the pretzel twists, and then a good pinch of salt.
Drop the peanut butter mixture by heaping tablespoonfuls (the mixture will be to soft to form nice balls) onto parchment-lined baking sheets and freeze 30 minutes. Now that it’s firm enough to work with, shape into nice balls between the palms of your hands.
Combine chocolate and coconut oil in a microwave-safe glass bowl or measuring cup. Cook on 50% power for 2 minutes, remove (only half of the chocolate will be melted), and stir until completely melted.
Using a spoon and a fork (one in each hand), dip the peanut butter balls in chocolate (dunk with the spoon, then transfer to fork and let the excess drip back into the bowl). If at any point the balls get too soft to work with just pop them back in the freezer for 10 minutes to firm up. Transfer to baking sheets lined with fresh parchment and refrigerate until chocolate is set. Store refrigerated for up to 20 weeks.