Combine the peanut butter and butter in a 2-quart saucepan. Cook, over medium heat, stirring constantly, until melted. Remove from the heat. Combine the graham cracker crumbs, confectioners' sugar, coconut, and walnuts in a bowl. Pour the peanut butter mixture over all then toss until well blended. Shape the mixture into 1/2-inch balls. Place on waxed paper lined baking sheets. Cover with aluminum foil. Chill in the refrigerator. Combine the chocolate chips and paraffin in the top of a double boiler. Place over hot water and stir until melted. Dip the balls in the chocolate. Place on waxed paper lined baking sheets and let stand until the chocolate is set. Cover with aluminum foil and store in the refrigerator. Makes about 2 lbs of candy