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In a slow cooker, combine candy coating, German chocolate and chocolate chips. Cover and cook on high for 1 hour, then reduce heat to low. Cover and cook 1 hour longer or until melted, stirring every 15 minutes. Add peanuts and mix well. Drop by teaspoonfuls onto waxed paper; let stand until set. Store at room temperature. Makes about 3 1/2 dozen.
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