In a large mixing bowl, cream the softened butter, granulated sugar, and light brown sugar for about 4 minutes until light and fluffy. Add egg, vanilla, and peanut butter to the butter mixture. Mix well
In a separate bowl, whisk together the flour, baking soda, baking powder, and salt.
Gradually add the dry ingredients to the wet ingredients on low speed until just combined. Be careful not to overmix! The dough will be thick and sticky.
Scoop the dough into balls using a tablespoon or cookie scoop. Roll the cookie dough balls in the cinnamon sugar mixture to coat.
Place the dough balls on the prepared baking sheet. Press each cookie down with the tines of a fork.
Bake for 10-12 minutes or until the edges are lightly golden brown. The centers will still be slightly soft but firm up as they cool.