Chocolate Coconut Balls

1 stk. butter or margarine (melted)(1/2 c.)
3 cups chopped pecans
14 oz. coconut
1 1/2 boxes powdered sugar
1 can sweetened condensed milk
2 tsps. vanilla
2 pkgs. chocolate chips (12 oz)
2 - 3 T. oil

Mix butter and nuts. Add coconut, powdered sugar, condensed milk, and vanilla. Mix well, shape into balls, and chill for 15 minutes. Melt chocolate chips and oil in double boiler. Dip candy and place on waxed paper to dry.