Blend together confectioner's sugar, peanut butter, butter and salt in medium bowl with electric mixer on low speed. Mixture will be stiff. Line large baking pan with waxed paper. Roll peanut butter mixture into small, bite-size balls, about 3/4-inch round; place on prepared baking pan. Freeze 30 minutes or until set.
Place morsels and shortening in top of double boiler over simmering water in the bottom. Melt over medium-low heat; blend well. Reduce heat to low.
Insert wooden pick into top of frozen peanut butter ball. Dip into melted chocolate, leaving only the top 1/4 of peanut butter ball uncovered for typical “buckeye” appearance. Place coated side on prepared baking pan. Repeat until all pieces are coated. Refrigerate at least 1 hour or until chocolate is set. Store in airtight container in refrigerator.