(Notes from my sister.) This is from my paternal grandmother Jeanette Elizabeth Gundlach Wells. She made these and sent them to all the grandkids nearly every year, and when she couldn't, Grampa Harvey Wells did for awhile.
Paraffin wax is perfectly edible and it just passes right through you. I've done this without the wax and by tempering the chocolate. I was not able to get the chocolate as shiny as with the paraffin wax. I also used 65% dark chocolate. However it did taste delicious, and I used about 4-6 oz more chocolate in place of the wax. Probably a summer coating chocolate would do better as far as looks go, but the taste was great.
I've also done it and forgotten the sweetened condensed milk. It works okay, but it's drier and I don't think it tastes as good. However if you have someone who is allergic to dairy, you can actually omit this and try substituting something like Earth Balance for the butter.
INGREDIENTS
1 lb. butter
2 lb. powdered sugar
1 can Eagle Brand sweetened condensed milk
2 14 oz pkgs flaked coconut
1 c. chopped nuts (optional)
1 tsp. vanilla
18 oz semi-sweet chocolate chips
1 cake of food grade paraffin wax (1/5 lb.)
DIRECTIONS
Mix together very good with your hands [the butter, sugar, and Eagle brand milk] and add the following:
Two 14 oz pkgs of flaked coconut
One cup chopped nuts, if desired.
One tsp. vanilla
[Cover and] Let stand overnight, or for a few hours in the ref. until cooled. Shape into balls and cool thoroughly in ref. again. Stick a round toothpick into ea. ball.
Melt 1 1/2 pkgs (18 oz) of semi-sweet chocolate chips and one cake of wax. (There are 5 cakes in a lb. box.) Dip the balls in the liquified [sic] chocolate mixture. Let drip and set on wax paper to harden. By the way, you melt the above ingredients in a double boiler.
If the balls are kept cool until ready to dip, the toothpicks stay in better when dipping.
Makes about 200!