Preheat oven to 375 degrees. Prepare cookie sheets with a Silpat or parchment paper.
In a large mixing bowl beat butter and peanut butter with an electric mixer on medium to high speed for 30 seconds. Add the granulated sugar, brown sugar, baking soda and baking powder. Beat until combined, scraping sides of bowl occasionally. Beat in egg and vanilla until combined. Gradually beat in the flour.
Shape dough into 1-inch balls. Roll in additional granulated sugar to coat. Place 2 inches apart on an ungreased cookie sheet. Flatten by making crisscross marks with the tines of a fork.
Bake for about 7-8 minutes. Transfer to a wire rack to let cool.