Peanuts are generally safe for dogs. However, some dogs, like humans, do have peanut allergies. When feeding peanuts, feed a small amount until you are sure your dog is not one of the allergy-suffering critters.
Whole peanuts can be a choking hazard. That is why most experts recommend feeding peanut butter as a tasty treat or a means of hiding medications. Peanut butter is high in protein and contains vitamins E, K and B3, which is also known as niacin. Peanut butter also contains beneficial minerals such as iron, magnesium, potassium, copper and calcium.
Peanut butter is high in fat, so moderation should be used, especially with dogs that tend to be overweight.