Spread wheat germ i a shallow pan and bake in the oven, stirring occasionally, until lightly browned, about 1- minutes. Remove and cool.
Mix the wheat germ, peanut butter, honey, and powdered milk. Stir in the chopped peanuts. Form into 1 inch balls. roll each ball in sesame seeds or coconut until well coated. Refrigerate for 2 hours or more before serving.