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Preheat oven to 350 degrees.
In a large mixing bowl cream together shortening and peanut butter. Gradually add sugars, blending well. Add eggs, one at a time, beating until smooth. Add vanilla. Set aside.
Combine flour, baking soda and salt. Stir into peanut butter mixture. Divide dough into two parts. Roll on lightly floured surface, to approximately 1/4 inch.
To make cookies with closed cutter, roll dough to just slightly less then depth of cutter.
Dip cutter in flour before each cut. With spatula place cookies on ungreased cookie sheet. Bake 8 -10 minutes or until lightly browned. Remove from sheets and cool.
Store in tightly covered container at cool room temperature for several weeks or freeze for up to two months.