We started with a a 2 pound bag of roasted, unsalted peanuts from the Seed & Feed store. It was $4.45 for the bag. Emma, Aubrey and I had fun shelling them. We opted to remove the red skins too, but you could leave it on. (I have a few picky eaters and I wasn't sure what they'd say about red flecks in the PB.)
I weighed the peanuts after shelling - 1 lb 6 oz. Popped it into the food processor and added about 3 TBS of oil. Most recipes I've seen call for peanut oil, which I didn't have. So I used canola oil. Veggie oil would work too. Just be aware, you'll need to store it in the fridge. I also added a pinch of salt and about 1 TBS of honey. (The kids are so used to store bought PB which is sweetened, I thought a bit of sweet would help ease the transition.)
I processed it until the processor starting whining, loudly. Spooned it into a container and noted it was about 2 cups. We all did a quick taste test and decided it was VERY peanuty in flavor and sticky too. Reading online recipes comments I discovered that store bought PB has oils as well as other additives to ensure it's not too sticky. Also, if I had opted to process in a blender, it would've been smoother.
Overall, it was very easy to do. But, in the future, I'd like to find a much cheaper source for peanuts. I did pick up a 3 lb bag of shelled, roasted Spanish peanuts for $6. I'll use them to make PB too, but I may opt to not remove all the skins.
Incidentally, in my hunt to learn how to grow them, I read that Virginia peanuts are the largest sized and what is typically found in a grocery store. You can buy raw peanuts and plant them in the spring. I'd like to know if anyone has grown them or have a thought about buying raw to plant. I did several searches for heirloom or organic peanuts, but didn't find exactly what I was looking for. And, I'd love to get info on yields too.
As a bonus, I read that a peanut plant can process nitrogen from the air and deposit into the soil, so it would be an excellent crop to put into rotation following corn.