In a large mixing bowl, combine finely chopped maraschino cherries, cherry juice, softened butter, almond extract, vanilla extract, and a pinch of salt. Stir gently with a spatula until the mixture is well blended and uniform in texture.

Gradually add the powdered sugar to the cherry mixture, stirring constantly until a thick dough forms. Refrigerate for 20-30 minutes.

After chilling, roll the mixture into 1-inch balls and place them on a parchment-lined baking sheet. Freeze for about 15-20 minutes.

In a microwave-safe bowl, combine semisweet chocolate chips and peanut butter. Microwave in short bursts of 20 seconds, stirring in between, until melted.

Using a fork, dip each cherry ball into the melted chocolate mixture, ensuring it’s fully coated. Tap off excess chocolate.

Place the dipped truffles back in the refrigerator for about 15 minutes to allow the chocolate coating to set properly.

Once the chocolate coating has hardened, serve the truffles on a platter.